Labor Contracts as Partial Gift Exchange
DOI: 10.2307/1885099
关键词: Cash 、 Division of labour 、 Promotion (rank) 、 Labour economics 、 Margin (finance) 、 Efficiency wage 、 Order (exchange) 、 Involuntary unemployment 、 Wage 、 Economics
摘要: This paper explains involuntary unemployment in terms of the response of firms to workers' group behavior. Workers' effort depends upon the norms determining a fair day's work. In order to affect those norms, firms may pay more than the market-clearing wage. Industries that pay consistently more than the market-clearing wage are primary, and those that pay only the market-clearing wage are secondary. Thus, this paper also gives a theory for division of labor markets between primary and secondary.
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