The Desire for Impact
November 2004
Research Paper
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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
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Automatically Extracted Terms
- worker
- impact
- effort
- increase
- impact motive
- investment
- labor
- output
- desire
- motive
- capital
- probability
- person
- value
- product
- market
- power
- people
- paper
- utility
