A note on wage differentials, fixed-wages and adverse selection
Using a substitution property of worker’s types (productivity and time preference), we propose an explanation for both fixed-wages and wage differentials. Fixed-wages result in bunching at the optimum. Equally productive workers with different time preference accept different wages.
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in: Studies in Labor Markets, pages 141-170
National Bureau of Economic Research, Inc.
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- Carlier, Guillaume & Gaumont, Damien, 2000. "Labor Contracts With Two-Dimensional Adverse Selection," Economics Papers from University Paris Dauphine 123456789/6245, Paris Dauphine University.
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