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Team Human Capital and Worker Mobility

Listed author(s):
  • Chillemi, Ottorino
  • Gui, Benedetto

The authors discuss the concept of 'team human capital' and study the renegotiation of labor compensation after team members privately observe their own reservation wage. As labor productivity can only be high if the number of quits does not exceed a threshold, decisions concerning acceptance of individual wage demands become interdependent. When a team is made up of salaried workers, a peculiar case of efficiency wage results. Moreover, inefficient team dissolution may occur. The authors then show that inefficiency is less likely to occur when team members form a partnership. Copyright 1997 by University of Chicago Press.

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File URL: http://dx.doi.org/10.1086/209838
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Article provided by University of Chicago Press in its journal Journal of Labor Economics.

Volume (Year): 15 (1997)
Issue (Month): 4 (October)
Pages: 567-585

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Handle: RePEc:ucp:jlabec:v:15:y:1997:i:4:p:567-85
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  1. Rob, Rafael, 1989. "Pollution claim settlements under private information," Journal of Economic Theory, Elsevier, vol. 47(2), pages 307-333, April.
  2. Dow, Gregory K, 1993. "Why Capital Hires Labor: A Bargaining Perspective," American Economic Review, American Economic Association, vol. 83(1), pages 118-134, March.
  3. Bonin, John P & Jones, Derek C & Putterman, Louis, 1993. "Theoretical and Empirical Studies of Producer Cooperatives: Will Ever the Twain Meet?," Journal of Economic Literature, American Economic Association, vol. 31(3), pages 1290-1320, September.
  4. George J. Mailath & Andrew Postlewaite, 1990. "Workers Versus Firms: Bargaining Over a Firm's Value," Review of Economic Studies, Oxford University Press, vol. 57(3), pages 369-380.
  5. Smith, Stephen C., 1988. "On the incidence of profit and equity sharing : Theory and an application to the high tech sector," Journal of Economic Behavior & Organization, Elsevier, vol. 9(1), pages 45-58, January.
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