Arbeitspapier
Wage flexibility in ongoing employment relations: an experiment with a stochastic labor market
Facing a stochastic market wage, which is independent of their own hiring policy, employers offer contracts specifying fixed wage, revenue share and employment duration. In ongoing employment relations it depends on the treatment whether fixed wages can be only increased or also decreased. Will the uncertainty of the future market wage and less wage flexibility lead to temporary employment? And, if not, will employers adjust wages to changing market wages and will workers in ongoing employment relations react to wage decreases via effort choices? Our results partly question empirical claims, e.g. of Bewley (1995), and confirm the tendency to establish ongoing employment relations. Granting more wage flexibility to employers altogether questions rather than enhances efficiency since it induces opportunistic wage cuts to which employees react with lower efforts.
- Sprache
-
Englisch
- Erschienen in
-
Series: Jena Economic Research Papers ; No. 2007,072
- Klassifikation
-
Wirtschaft
Noncooperative Games
Design of Experiments: General
Trade and Labor Market Interactions
Labor Force and Employment, Size, and Structure
Human Capital; Skills; Occupational Choice; Labor Productivity
Market Structure, Firm Strategy, and Market Performance: General
- Thema
-
noncooperative game
labor contracts
labor market flexibility
principalagent theory
experimental economics
Lohnstruktur
Arbeitsvertrag
Arbeitsbeziehungen
Agency Theory
Nichtkooperatives Spiel
Arbeitsmarktflexibilisierung
Test
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Berninghaus, Siegfried K.
Bleich, Sabrina
Güth, Werner
- Ereignis
-
Veröffentlichung
- (wer)
-
Friedrich Schiller University Jena and Max Planck Institute of Economics
- (wo)
-
Jena
- (wann)
-
2007
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Berninghaus, Siegfried K.
- Bleich, Sabrina
- Güth, Werner
- Friedrich Schiller University Jena and Max Planck Institute of Economics
Entstanden
- 2007
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