منابع مشابه
Profit-Sharing as the Optimal Wage Contract
This paper analyses the optimal wage contract when firms face demand uncertainty and workers care about employment stability. Workers choose the firm that offers the highest utility taking into account the future lay-off probabilities; firms choose the wage contract that maximises the residual share of the gains from production. For risk-neutral workers this occurs with any efficient wage contr...
متن کاملOn Comonotonicity of Pareto Optimal Risk Sharing
We prove comonotonicity of Pareto-optimal risk allocations using risk measures consistent with the stochastic convex order. This extends result of Landsberger and Meilijson (1994) to risks X ∈ L and general probability spaces.
متن کاملCo-development Ventures: Optimal Time of Entry and Profit-Sharing
We find the optimal time for entering a joint venture by two firms, and the optimal linear contract for sharing the profits. Our dataset shows that in practice, many contracts are based on fifty/fifty profit sharing. In our model, that happens in the following cases: symmetric information and contracts which include fixed cash payments; asymmetric information, fixed cash payments included, and ...
متن کاملProfit Sharing and Training
Profit Sharing and Training We analyze the impact of profit sharing on the share of workers receiving training. An effect is plausible because: 1) profit sharing is a credible commitment by firms to reward firmspecific skills acquired by formal or informal training, 2) profit sharing may reduce turnover and increase the returns to training, 3) a common payment for the whole workforce leads to p...
متن کاملProfit-Sharing and Innovation
We investigate the effect of profit-sharing on product and process innovation. Profit-sharing is a credible commitment of the companies to let the employees participate in any efficiency gain. Resistance against technical progress becomes less plausible. Moreover, employees are stimulated to share their specific information advantage on possibilities to optimize the production process and produ...
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ژورنال
عنوان ژورنال: ASTIN Bulletin
سال: 1988
ISSN: 0515-0361,1783-1350
DOI: 10.2143/ast.18.1.2014959