Fixed-Wages, Wage Differentials And Worker Heterogeneities
AbstractWe study incentive-compatible labour contracts in the case where individual productivity, preference for leisure and time preference rate are unobservable by the principal in a two-period model. We first reduce this three-dimensional problem to a standard one-dimensional screening problem. Features of second-best labour contracts provide a rationale for both fixed-wages and wage differentials. Copyright 2008 The Authors. Journal compilation 2008 Blackwell Publishing Ltd/University of Adelaide and Flinders University.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Australian Economic Papers.
Volume (Year): 47 (2008)
Issue (Month): 4 (December)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0004-900X
Other versions of this item:
- Carlier G. & Gaumont D., 2005. "Fixed-wages, wage differentials and worker heterogeneities," Working Papers ERMES 0514, ERMES, University Paris 2.
- Carlier, Guillaume & Gaumont, Damien, 2008. "Fixed-Wages, Wage Differentials and Workers Heterogeneities," Economics Papers from University Paris Dauphine 123456789/12856, Paris Dauphine University.
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Carlier, Guillaume & Gaumont, Damien, 2002. "A note on wage differentials, fixed-wages and adverse selection," Economics Papers from University Paris Dauphine 123456789/6246, Paris Dauphine University.
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