Whilst existing efficiency wage literature assumes detection probabilities of shirkers are exogenous, this paper finds them positively and endogenously dependent on non-shirkers' effort. It shares the result with the endogenous monitoring models where, in some regions, workers reduce effort in...

Using the NBER Shared Capitalism Database comprised of over 40,000 employee surveys from 14 firms, we investigate worker attitudes towards employee ownership, profit sharing, and variable pay. Specifically, our study uses detailed survey questions on preferences over profit sharing, forms of...

A worker co-operative is a firm that is owned and managed by those who work in it. This paper provides a selective review of research in economics on worker cooperatives. It concentrates on the volatility of earnings and employment in the co-ops compared with conventional capitalist firms; on...

This is a case study of the institutional changes occurring since the late 1990s at the Chilean Austral Hake (Merluccius Australis) artisanal fishery. This high-value exporting fishery, specialized in selling fresh-chilled products, represents a pioneering case of self-government developments...

This paper describes some preliminary findings of an ethnographic inquiry into a steel mill pruchased by its employees through a stock option scheme in the early 1980's to avoid closure by its parent company.

La proposition d'une economie de partage faite par Weitzman il y a dix ans pour reduire le chomage s'est heurtee a plusieurs objections serieuses. L'une des plus importantes etait que cette proposition conduisait a infliger aux employes un niveau de risque inacceptable. Cet article montre que le...

Research determining the effectiveness of performance appraisal programs has concentrated on evaluating how well PA programs have met several quantitativel psychometric criteria. Typically, performance ratings have been examined in terms of their reliability, discriminability and/or accuracy....

This essay presents a new theory explaining increased wage inequality. A standard endogenous growth model is augmented with occupational choice of highskill workers. Depending on the occupational choice, high-skill workers earn either a certain or uncertain income. Wage inequality, measured by...

One of the main reasons why workers’ enterprises (WE) still represent a relevant chunk of the economy may lie in some affinities with conventional profit maximizing firms. To prove this, we compare the entry policies of WEs and conventional firms when they can decide size at entry while having...