Navarra Cecilia

15 febbraio 2013

118 – Employer moral hazard and wage rigidity

Abstract The standard explanation of wage rigidity in principal agent and in efficiency wage models is related to worker risk-aversion. However, these explanations do not consider […]
14 febbraio 2013

117 – Employer moral hazard, wage rigidity and worker cooperatives: A theoretical appraisal

Abstract We argue that in a capitalist enterprise the need to fix wages is crucially influenced by the asymmetric distribution of decision-making power, which can entail […]