Relative pay and labor supply
AbstractThe authors use a labor supply; relative pay; experimental economics laboratory experiment to examine the impact of relative wages on labor supply. They test the hypothesis that, ceteris paribus, making a given wage high (low) relative to other wage levels will lead to an increase (decrease) in labor supply. They find that labor supply does respond significantly to relative pay, and in the expected direction. However, when a strong enough reason is given for the relative low pay, this difference disappears.
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Bibliographic InfoPaper provided by Federal Reserve Bank of Boston in its series Working Papers with number 12-6.
Date of creation: 2012
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-08-23 (All new papers)
- NEP-CBE-2012-08-23 (Cognitive & Behavioural Economics)
- NEP-EXP-2012-08-23 (Experimental Economics)
- NEP-HRM-2012-08-23 (Human Capital & Human Resource Management)
- NEP-LAB-2012-08-23 (Labour Economics)
- NEP-LMA-2012-08-23 (Labor Markets - Supply, Demand, & Wages)
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