Efficiency wages in an experimental labor market.
other · Level V
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- Record sourced from PubMed, PMID 16578880.
- Also identified by PMC identifier 130636.
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Abstract
There has been recent experimental support for efficiency wage theories of the labor market. This short paper initiates the larger process of evaluating the boundary conditions of the gift- exchange phenomenon. In particular, we will see whether behavior consistent with the fair wage-effort hypothesis can emerge and be sustained under conditions in which there is (i) a nontrivial marginal cost to providing effort and (ii) increased social distance between subject and experimenter.