Wage–hours contracts, overtime working and premium pay

Wage-Hours Contracts, Overtime Working and Premium Pay

Wage-Hours Contracts, Overtime Working and Premium Pay This paper offers a contract-based theory to explain the determination of standard hours, overtime hours and overtime premium pay. We expand on the wage contract literature that emphasises the role of firm-specific human capital and that explores problems of contract efficiency in the face of information asymmetries between the firm and the...

Inventory Control with Overtime and Premium Freight

We consider a manufacturer that must fill stochastic demand. When shortages occur, the manufacturer may choose to meet the unmet demand with overtime production and/or by premium freight shipments. We derive optimal production policies for regular and overtime production and discuss the tradeoffs involved.

Supply Chain Management with Overtime and Premium Freight

We consider a two-stage supply chain under centralized control. The downstream facility faces discrete stochastic demand and passes supply requests to the upstream facility. The upstream facility always meets the supply requests from downstream. If the upstream facility can not meet the supply requests from inventory on hand, the shortage must be filled by either overtime production and/or prem...

Does the Statutory Overtime Premium Discourage Long Workweeks?

Using a pooled data set consisting of 20 annual observations on each of eleven major industry groups, I estimate the effects of overtime pay regulation on weekly work schedules. After controlling for workweek trends within industries, the sharp expansions in overtime pay coverage resulting from legislative amendments and Supreme Court decisions produced no discernible impact on overtime hours. ...

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