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Allocation of Capital and Labor in a Labor-Owned Firm Consisting of Heterogeneous Workers


  • Askildsen, Jan Erik


This paper focuses on conflicts that may arise in a labor-owned firm consisting of heterogeneous workers. The firm is financed by vote-carrying shares held by the worker-members. Collusive decisions on income sharing and recruitment policy are analyzed. In another separate stage, it is shown how individual workers' supplies of labor and capital depend on characteristics such as their attitudes towards risk. On the basis of these analyses, conditions for unanimous decision-making are discussed. Copyright 1988 by The editors of the Scandinavian Journal of Economics.

Suggested Citation

  • Askildsen, Jan Erik, 1988. " Allocation of Capital and Labor in a Labor-Owned Firm Consisting of Heterogeneous Workers," Scandinavian Journal of Economics, Wiley Blackwell, vol. 90(4), pages 603-618.
  • Handle: RePEc:bla:scandj:v:90:y:1988:i:4:p:603-18

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    References listed on IDEAS

    1. Larsson, Laura, 2002. "Sick of being unemployed? Interactions between unemployment and sickness insurance in Sweden," Working Paper Series 2002:6, IFAU - Institute for Evaluation of Labour Market and Education Policy.
    2. Larsson, Laura, 2002. "Sick of Being Unemployed? Interactions Between Unemployment and Sickness Insurance in Sweden," Working Paper Series 2002:5, Uppsala University, Department of Economics.
    3. Cassel, Claes-M. & Johansson, Per & Palme, MÃ¥rten, 1996. "A Dynamic Discrete Choice Model of blue Collar Worker Absenteeism in Sweden 1991," SSE/EFI Working Paper Series in Economics and Finance 129, Stockholm School of Economics.
    4. Andersson, Fredrik & Vejsiu, Altin, 2001. "Determinants of plant closures in Swedish manufacturing," Working Paper Series 2001:6, IFAU - Institute for Evaluation of Labour Market and Education Policy.
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