Wage Premiums and Profit Maximization in Efficiency Wage Models.

The standard shirking model of efficiency wages is essentially a continuous-time, repeated prisoners' dilemma game. Thus, to sustain an equilibrium with employment requires sufficient gains from future cooperation. Each division of these gains corresponds to some equilibrium. Efficiency wages c...

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書目詳細資料
Main Authors: MacLeod, W, Malcomson, J
格式: Journal article
語言:English
出版: 1993