efficiency wages การใช้

• These enhancements, known as efficiency wage effects, reduce the cost of rent sharing.
• Stiglitz did not invent efficiency wage theory, but he certainly elaborated on it.
• Economists have several explanations for the intuition behind efficiency wages.
• Efficiency wage theories explain why firms might pay their employees more than the market clearing rate.
• In the Shapiro Stiglitz model of efficiency wages, workers are paid at a level that dissuades shirking.
• There may be full employment in the economy, and yet efficiency wages may prevail in some occupations.
• However, efficiency wages do not necessarily imply unemployment, but only uncleared markets and job rationing in those markets.
• Efficiency wage models suggest that employers pay their workers above market clearing wages in order to enhance their productivity.
• This is an alternative to other common approaches to efficiency wages such as the " discipline " theory by e . g.
• Thus high-wage firms are paying an efficiency wage  they pay more, and, on average, get more ( see e . g.
• The supervision technology in this paper is similar to the one utilized in Ref . 2 in connection with the issue of efficiency wages.
• Efficiency wages offer therefore a market failure explanation of unemployment & ndash; in contrast to theories which emphasize government intervention ( such as minimum wages ).
• The work of George Akerlof and Janet Yellen on efficiency wages based on notions of fairness provides an example of a feminist model of economic actors.
• One criticism of this and other flavours of the efficiency wage hypothesis is that more sophisticated employment contracts can under certain conditions reduce or eliminate involuntary unemployment.
• In efficiency wage models based on shirking, employers are worried that workers may shirk knowing that they can simply move to another job if they are caught.
• Macroeconomic models, including real business cycle models, efficiency wage models and search / matching models, have long had difficulty accounting for the observed volatility in labor market variables.
• Modern mainstream economics points to cases where equilibrium does not correspond to market clearing ( but instead to unemployment ), as with the efficiency wage hypothesis in labor economics.
• In fairness models, a more recent trend in the efficiency wage literature, employers have to pay a sociologically " fair " wage in order to encourage workers to be productive.
• Marshallian efficiency wages would make employers pay different wages to workers who are of different efficiency, such that the employer would be indifferent between more efficient workers and less efficient workers.
• This managerial reasoning is known as the " efficiency wage, " a concept described more than 25 years ago by George A . Akerlof when behavioral economics was hardly a speck.