IDEAS home Printed from https://ideas.repec.org/a/rje/bellje/v12y1981ispringp263-271.html
   My bibliography  Save this article

The Theory of Internal Wage and Employment Structure

Author

Listed:
  • Andrew J. Oswald

Abstract

This article examines the behavior of a competitive firm in a world in which workers gradually acquire skill and experience. It is shown that the firm will not pay workers--who are indexed in this model by seniority--the value of their marginal product. The article also proposes a simple incentive argument as a possible explanation for the fact that many firms seem to pay wages based upon age and length of service.

Suggested Citation

  • Andrew J. Oswald, 1981. "The Theory of Internal Wage and Employment Structure," Bell Journal of Economics, The RAND Corporation, vol. 12(1), pages 263-271, Spring.
    • Handle: RePEc:rje:bellje:v:12:y:1981:i:spring:p:263-271
    as

    Download full text from publisher

    File URL: http://links.jstor.org/sici?sici=0361-915X%28198121%2912%3A1%3C263%3ATTOIWA%3E2.0.CO%3B2-D&origin=repec
    File Function: full text
    Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Clark, Andrew E. & Oswald, Andrew J., 1998. "Comparison-concave utility and following behaviour in social and economic settings," Journal of Public Economics, Elsevier, vol. 70(1), pages 133-155, October.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rje:bellje:v:12:y:1981:i:spring:p:263-271. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://www.rje.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.