Internal Labour Markets and Democratic Labour-Managed Firms
A two-stage, decision-making process is modeled where members of the firm vote for a feasible set of wage rates and then choose which work process to join. It is shown that this system is characterized by allocative inefficiency, noncontinuous supply functions, and wage discrimination. These effects could be limited by outside opportunities for members or by members having sympathy for others. Copyright 1988 by The editors of the Scandinavian Journal of Economics.
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Volume (Year): 90 (1988)
Issue (Month): 4 ()
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