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...

Disgrifiad llawn

Manylion Llyfryddiaeth
Prif Awduron: MacLeod, W, Malcomson, J
Fformat: Journal article
Iaith:English
Cyhoeddwyd: 1993