The Desire for Impact
This paper explores the meaning and implications of the desire by workers for impact. We find that this impact motive can make firms in a competitive labor market act as monopsonists, lead workers with the same characteristics but at different firms to earn different wages, may alleviate the hold-up problem in firm-specific investment, can make it profitable for an employer to give workers autonomy in effort or task choice, and can propagate shocks to unemployment.
|Keywords||autonomy, contracts, hold-up problem, impact, monopsonistic behavior, wage differentials|
Dur, A.J.. (2004). The Desire for Impact (No. TI 04-115/1). Retrieved from http://hdl.handle.net/1765/6612