Stabsseminar ved Hans K. Hvide

Hans K. Hvide holder stabsseminar ved Institutt for foretaksøkonomi fredag 12. januar.

11.01.2001 - Paraplyen

Tema: Wage Dynamics and Career Concerns in Anarchistic Firms

Tid og sted:
Fredag 12. januar, kl. 1215-1330 i Karl Borchs aud.

Abstract
We consider multiple task firms where the effort of workers is contractible but individual output is not. Each firm designs a wage scheme in order to make workers choose tasks in accordance with their (privately known) abilities. Given the offered scheme, workers trade off current wage against career prospects. In equilibrium, workers choose their own tasks, rather than be-ing assigned to one, and moreover there is positive worker turn-over in spite of workers having identical productivity across firms. Efficient equilibria, where workers choose their appropriate tasks, are more likely to exist with low outsideobservability of task choices. An implication is that all types of workers prefer a situation with low outside observability to a situation with high outside observability. We discuss a variety of applications.

Kontaktperson: Hans K. Hvide (9283)