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Involuntary Unemployment and Non-compensating Wage Differentials in an Experimental Labour Market

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Author Info
Fehr, Ernst
Kirchsteiger, Georg
Riedl, Arno

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Abstract

In this paper, the authors report the results of a series of efficiency wage experiments. Some of the key predictions of the efficiency wage hypothesis are qualitatively confirmed by the data: higher wages caused a reduction in shirking; firms offered contracts which exhibited positive job rents; firms offered systematically different wages and job rents which gave rise to noncompensating income differentials; and endogenous involuntary unemployment occurred. Copyright 1996 by Royal Economic Society.

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Publisher Info
Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 106 (1996)
Issue (Month): 434 (January)
Pages: 106-21
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Handle: RePEc:ecj:econjl:v:106:y:1996:i:434:p:106-21

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  1. Eriksson, Tor & Villeval, Marie-Claire, 2004. "Other-Regarding Preferences and Performance Pay – An Experiment on Incentives and Sorting," IZA Discussion Papers 1191, Institute for the Study of Labor (IZA). [Downloadable!]
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  2. Tor Eriksson & Marie-Claire Villeval, 2008. "Performance Pay, Sorting and Social Motivation," Post-Print halshs-00331753_v1, HAL. [Downloadable!]
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  3. Brian Roe & Steven Y. Wu, 2005. "Social Preferences and Relational Contracting Performance: An Experimental Investigation," Microeconomics 0509006, EconWPA. [Downloadable!]
  4. Burda, M. & Gueth, W. & Kirchsteiger, G. & Uhlig, H., 1998. "Employment duration and resistance to wage reductions : experimental evidence," Discussion Paper 73, Tilburg University, Center for Economic Research. [Downloadable!]
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  5. Christoph Zaborowski & Peter Zweifel, 1999. "Getting Out of Debt: Garnishment of Wage in Whose Interest?," European Journal of Law and Economics, Springer, vol. 8(3), pages 207-230, November. [Downloadable!] (restricted)
  6. Huck, Steffen & Seltzer, Andrew J. & Wallace, Brian, 2004. "Deferred Compensation and Gift Exchange: An Experimental Investigation into Multi-Period Labor Markets," IZA Discussion Papers 1193, Institute for the Study of Labor (IZA). [Downloadable!]
  7. Peter Hans Matthews, 2004. "Who is Post-Walrasian Man?," Middlebury College Working Paper Series 0412, Middlebury College, Department of Economics. [Downloadable!]
  8. Sandra Maximiano & Randolph Sloof & Joep Sonnemans, 2004. "Gift Exchange in a Multi-worker Firm," Tinbergen Institute Discussion Papers 04-100/1, Tinbergen Institute. [Downloadable!]
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  9. John Duffy, 2008. "Macroeconomics: A Survey of Laboratory Research," Working Papers 334, University of Pittsburgh, Department of Economics, revised Mar 2008. [Downloadable!]
  10. Ernst Fehr & Georg Kirchsteiger & Arno Riedl, 2003. "Gift Exchange and Reciprocity in Competitive Experimental Markets," Labor and Demography 0305002, EconWPA. [Downloadable!]
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