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Profit Sharing, Employment Efficiency and Wage Stability

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Author Info

  • Gottfries, Nils
  • Sjostrom, Tomas

Abstract

A contract between a risk-neutral firm and its risk-averse workers is considered under uncertainty about product demand. The authors show that profit sharing can be used to attain the efficient level of employment and, at the same time, preserve optimal risk sharing between the parties. Optimal profit sharing does not imply wage variability; instead, wages are stabilized across states. Copyright 1995 by The editors of the Scandinavian Journal of Economics.

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Scandinavian Journal of Economics.

Volume (Year): 97 (1995)
Issue (Month): 2 (June)
Pages: 281-94

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Handle: RePEc:bla:scandj:v:97:y:1995:i:2:p:281-94

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Web page: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-9442

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Web: http://www.blackwellpublishing.com/subs.asp?ref=0347-0520

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Cited by:
  1. Kauhanen, Antti & Piekkola, Hannu, 2002. "Profit Sharing in Finland: Earnings and Productivity Effects," Discussion Papers 817, The Research Institute of the Finnish Economy.

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