Now showing items 1-2 of 2
A Model of the Determinants of Effort
This study derives an expression for effort from utility-maximizing behavior on the part of workers, whose utility depends on consumption, effort, and the ratio between their wage and their perceived fair wage. Unlike many ...
An Efficiency Wage Approach to Reconciling the Wage Curve and the Phillips Curve
This study develops an efficiency wage model that generates a wage curve at the regional level and a Phillips curve at the national level, under the assumption that workers' efficiency depends on both regional and aggregate ...