Career Concerns, Contracts, and Effort Distortions
AbstractA two-period, career-concerns model with symmetric information but uncertainty about each worker's ability is analyzed. Contracts are unobservable, but incomes are observable. It is shown that effort is distorted upward by contracts being unobservable and that the distortion depends positively on turnover.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Labor Economics.
Volume (Year): 20 (2002)
Issue (Month): 1 (January)
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Web page: http://www.journals.uchicago.edu/JOLE/
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