Related terms:
problem arises
holmstrom
all firms
lower wages
agency theory
incentive structures
involuntary unemployment
principal agent
fehr and schmidt
workers may
efficiency wage
adopter
efficiency gains
efficiency wages
performance evaluation
shirking
reference points
economic review
market clearing
marginal product
gift exchange
some extent
higher wages
akerlof
deferred compensation
labor economics
milgrom
yellen
vindictive
fehr
Wikipedia sources:
Principal-agent problem
Efficiency wages
Context for words:
piece
rates
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