A Sorting Model of Labor Contracts PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download A Sorting Model of Labor Contracts PDF full book. Access full book title A Sorting Model of Labor Contracts by Andrew Weiss. Download full books in PDF and EPUB format.
Author: Andrew Weiss
Publisher:
ISBN:
Category : Employee selection
Languages : en
Pages : 66
Get Book Here
Book Description
This paper analyzes a sorting model of labor contracts when workers have private information about their own productivities, and firms can test (monitor) workers. We show that sorting considerations alone generate steep wage-tenure profiles, high turnover rates of newly hired workers, and mandatory retirement rules. We find that if test results are only informative to the testing firm, and hiring is costless, then all workers that fail the test are fired. When hiring is costly, we derive conditions under which the firm retains sane (or all) workers that fail its test. We also derive conditions under which the firm tests sane, but not all, of its workers. In the second part of this paper, we consider the case when there are no hiring costs and there are many identical firms competing for the good type workers. we characterize the optimal contracts am show that competition for workers can lower total output. This is because competition can induce firms to increase the proportion of their workers that they test, rot it the test is costly, this lowers output. Finally, we show that because a mandated minimum wage affects the probability of a firm testing its worker's, an increase in the minimum wage can increase (or decrease) aggregate output.
Author: Andrew Weiss
Publisher:
ISBN:
Category : Employee selection
Languages : en
Pages : 66
Get Book Here
Book Description
This paper analyzes a sorting model of labor contracts when workers have private information about their own productivities, and firms can test (monitor) workers. We show that sorting considerations alone generate steep wage-tenure profiles, high turnover rates of newly hired workers, and mandatory retirement rules. We find that if test results are only informative to the testing firm, and hiring is costless, then all workers that fail the test are fired. When hiring is costly, we derive conditions under which the firm retains sane (or all) workers that fail its test. We also derive conditions under which the firm tests sane, but not all, of its workers. In the second part of this paper, we consider the case when there are no hiring costs and there are many identical firms competing for the good type workers. we characterize the optimal contracts am show that competition for workers can lower total output. This is because competition can induce firms to increase the proportion of their workers that they test, rot it the test is costly, this lowers output. Finally, we show that because a mandated minimum wage affects the probability of a firm testing its worker's, an increase in the minimum wage can increase (or decrease) aggregate output.
Author: Dale Mortensen
Publisher: MIT Press
ISBN: 9780262633192
Category : Business & Economics
Languages : en
Pages : 170
Get Book Here
Book Description
A theoretical and empirical examination of wage differentials findsthat traditional theories of competition do not explain why workers with identical skills are paid differently.
Author: R. Cooper
Publisher: Routledge
ISBN: 1136457526
Category : Business & Economics
Languages : en
Pages : 104
Get Book Here
Book Description
First Published in 2001. Routledge is an imprint of Taylor & Francis, an informa company.
Author: Roman Inderst
Publisher: Herbert Utz Verlag
ISBN: 9783896755445
Category :
Languages : en
Pages : 128
Get Book Here
Book Description
Author:
Publisher:
ISBN:
Category : Agriculture
Languages : en
Pages : 558
Get Book Here
Book Description
Author: Rita Asplund
Publisher: Springer Science & Business Media
ISBN: 3642997767
Category : Political Science
Languages : en
Pages : 224
Get Book Here
Book Description
The past few decades have seen a revolutionary increase in interest in the economic role of education and training at the societal, business, and individual levels. This is mainly due to the strong post-war growth in industrialized economies, which has been driven by rapid technological progress and far-reaching structural change and, in the end, has resulted in increasingly skill-intensive production and growing demandfor more educated labour. Today it is frequently argued that with the increasing importance of the role of know-how, the workforce has become the most important single input in the production process. Simultaneously the dramatic increase in the availability of large micro-Ievel databases has opened enormous possibilities to study the economic role of human capital creation also empirically. The economic perspective of human capital accumulation is, however, of utmost importance also in times of deep economic recession. Periods of economic slowdown and rapidly increasing unemployment tend to in crease the demandfor advanced education and training in particular. This brings up, in turn, questions regarding overeducation and satisfying both private and social retums on investments in human capital.
Author: Geraint Johnes
Publisher: Edward Elgar Publishing
ISBN: 1845421698
Category : Education
Languages : en
Pages : 873
Get Book Here
Book Description
. . . is a voluminous and timely collection of 18 essays that addresses a number of core issues on the economics of education. . . An exhaustive survey of the literature on the role of universities as multi-product firms at various levels and disciplines identifies the nature of the economies of scope and scale. This enriches the volume further. Economic Analysis & Policy . . . the endeavour of bringing together very knowledgeable contributors, including some of the leading contributors to the literature in the UK and beyond, to write a handbook on the economics of education is highly appreciated. The Handbook contains 18 substantive chapters, encapsulated by a brief introduction and an extensive and a very useful index. . . the Handbook should be praised as a useful overview of the field of economics of education as it stands today. Ludger Wößmann, Economic Issues This major Handbook comprehensively surveys the rapidly growing field of the economics of education. It is unique in that it comprises original contributions on an exceptional range of topics from a review of human capital, signalling and screening models, to consideration of issues such as educational externalities and economic growth, funding models, determinants of educational success, the educational production function, educational standards and efficiency measurement. Labour market issues such as the market for teachers and the transition of students from school to work are also explored. The International Handbook on the Economics of Education will be warmly welcomed by academic economists, educational researchers and practitioners in educational management as well as policymakers. Comprising specially commissioned articles, the Handbook will become indispensable reference for this ever topical field of study.
Author: Robert Gibbons
Publisher: Princeton University Press
ISBN: 0691132798
Category : Business & Economics
Languages : en
Pages : 1248
Get Book Here
Book Description
(E-book available via MyiLibrary) In even the most market-oriented economies, most economic transactions occur not in markets but inside managed organizations, particularly business firms. Organizational economics seeks to understand the nature and workings of such organizations and their impact on economic performance. The Handbook of Organizational Economics surveys the major theories, evidence, and methods used in the field. It displays the breadth of topics in organizational economics, including the roles of individuals and groups in organizations, organizational structures and processes, the boundaries of the firm, contracts between and within firms, and more.
Author: Gerrit de Geest
Publisher: Edward Elgar Publishing
ISBN: 1849806640
Category : Law
Languages : en
Pages : 497
Get Book Here
Book Description
This unique and timely book offers an up-to-date, clear and comprehensive review of the economic literature on contract law. The topical chapters written by leading international scholars include: precontractual liability, misrepresentation, duress, gratuitous promises, gifts, standard form contracts, interpretation, contract remedies, penalty clauses, impracticability and foreseeability. Option contracts, warranties, long-term contracts, marriage contracts, franchise contracts, quasi-contracts, behavioral approaches, and civil contract law are also discussed. This excellent resource on contract law and economics will be particularly suited to contract law scholars, law teachers, policy makers, and judges. For experts in and practitioners of contract law this will be a key book to buy.
Author: National Bureau of Economic Research
Publisher:
ISBN:
Category : Economic history
Languages : en
Pages : 612
Get Book Here
Book Description
