Reputation and Hierarchy in Dynamic Models of Employment.
This paper explores the nature of employment contracts in a dynamic model when workers vary by unobserved ability, and there is moral hazard on both sides of the contract. We find that even though a worker's ability is chosen from a continuum, the equilibrium contract is characterized by a hier...
| Hlavní autoři: | , |
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| Médium: | Working paper |
| Jazyk: | English |
| Vydáno: |
Department of Economics (Queen's University)
1985
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