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A Legal Basis for Workers as Agents: Employment Contracts, Common Law, and the Theory of the Firm

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Author Info
Harvey S. James Jr. (University of Missouri)

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Abstract

The purpose of this paper is to show that the common law governing the employment of labor makes the distinction not only between employee and independent contractor but also between managerial control and agency. The idea is that common law precedents govern workers who are employed and managerially controlled without the requirement that formal, written contracts be established, and that these defaults support the authority of management to direct their activities within the firm. However, many firm owners voluntarily restrict their ability to control workers by making them agents. Workers who are agents differ from workers who are managerially controlled in that in the former caseworkers are treated differently in the eyes of the common law and they often sign detailed, formal employment contracts. The typical features of formal employment contracts are examined. The principal conclusion is that formal employment contracts facilitate the granting of discretion to workers by superseding many of the legal defaults that define the relationship between the worker and firm owner.

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Publisher Info
Paper provided by EconWPA in its series Law and Economics with number 9705001.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 30 pages
Date of creation: 01 May 1997
Date of revision: 04 Feb 2002
Handle: RePEc:wpa:wuwple:9705001

Note: Type of Document - Microsoft Word 2000; prepared on IBM PC pentium running WindowsNT; to print on HP; pages: 30; figures: none
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Web page: http://129.3.20.41

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Related research
Keywords: Employment contracts; managerial control; agency relations; common law; transaction cost economics;

Find related papers by JEL classification:
K31 - Law and Economics - - Other Substantive Areas of Law - - - Labor Law
D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights

References listed on IDEAS
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  1. Alchian, Armen A & Demsetz, Harold, 1972. "Production , Information Costs, and Economic Organization," American Economic Review, American Economic Association, vol. 62(5), pages 777-95, December. [Downloadable!] (restricted)
    Other versions:
  2. Charles Brown, 1990. "Firms' choice of method of pay," Industrial and Labor Relations Review, ILR Review, ILR School, Cornell University, vol. 43(3), pages 165-182, February.
    Other versions:
  3. Edward P. Lazear, 1986. "Incentive Contracts," NBER Working Papers 1917, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  4. Cheung, Steven N S, 1983. "The Contractual Nature of the Firm," Journal of Law & Economics, University of Chicago Press, vol. 26(1), pages 1-21, April.
  5. Valsecchi, Irene, 1996. "Policing Team Production through Job Design," Journal of Law, Economics and Organization, Oxford University Press, vol. 12(2), pages 361-75, October.
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  7. Minkler, Alanson P., 1993. "Knowledge and internal organization," Journal of Economic Behavior & Organization, Elsevier, vol. 21(1), pages 17-30, May. [Downloadable!] (restricted)
  8. Klein, Benjamin & Crawford, Robert G & Alchian, Armen A, 1978. "Vertical Integration, Appropriable Rents, and the Competitive Contracting Process," Journal of Law & Economics, University of Chicago Press, vol. 21(2), pages 297-326, October.
  9. Masten, Scott E, 1988. "A Legal Basis for the Firm," Journal of Law, Economics and Organization, Oxford University Press, vol. 4(1), pages 181-98, Spring.
  10. Aghion, Philippe & Tirole, Jean, 1997. "Formal and Real Authority in Organizations," Journal of Political Economy, University of Chicago Press, vol. 105(1), pages 1-29, February.
    Other versions:
  11. James Jr., Harvey S., 1998. "Are employment and managerial control equivalent? Evidence from an electronics producer," Journal of Economic Behavior & Organization, Elsevier, vol. 36(4), pages 447-471, September. [Downloadable!] (restricted)
  12. Harvey S. James Jr, 2000. "Separating contract from governance," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 21(2), pages 47-61.
  13. Bruce A. Rayton, 1994. "Are CEOs the Only Residual Claimants? Estimation of the Performance Elasticity of Per-Employee Compensation," Industrial Organization 9412001, EconWPA, revised 16 Jun 1995. [Downloadable!]
  14. White, William D., 1992. "Information and the control of agents," Journal of Economic Behavior & Organization, Elsevier, vol. 18(1), pages 111-117, June. [Downloadable!] (restricted)
  15. Holmstrom, Bengt & Milgrom, Paul, 1994. "The Firm as an Incentive System," American Economic Review, American Economic Association, vol. 84(4), pages 972-91, September. [Downloadable!] (restricted)
  16. Hirao, Yukiko, 1993. "Task Assignment and Agency Structures," Journal of Economics & Management Strategy, Blackwell Publishing, vol. 2(2), pages 299-323, Summer.
  17. Holmstrom, Bengt & Milgrom, Paul, 1991. "Multitask Principal-Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design," Journal of Law, Economics and Organization, Oxford University Press, vol. 7(0), pages 24-52, Special I.
  18. Fumas, Vincente Salas, 1993. "Incentives and supervision in hierarchies," Journal of Economic Behavior & Organization, Elsevier, vol. 21(3), pages 315-331, August. [Downloadable!] (restricted)
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