On the choice of incentives in firms
Various individual incentives such as piece-rates, bonus pay and threat of dismissal for shirking have been applied to industrial settings to promote industrial productivity. However, such incentives have hindered cooperation and teamwork development. Measurement of these incentive effects generate a selection bias problem. This problem can be corrected for situations where profit sharing is accompanied by positive effects.
Publication Name: Journal of Economic Behavior & Organization
Some general equilibrium aspects of a labor-managed economy with monopoly elements
The general equilibrium allocations of a labor-managed economy with monopoly features were characterized and compared to a profit-maximizing economy. The structure of the industry and its welfare performance were used as the parameters in the examination. The utility of general equilibrium specifications in dealing with the long run equilibrium in the economy with monopoly rents was demonstrated.
Publication Name: Journal of Comparative Economics
- Abstracts: The welfare cost of inflation in general equilibrium. Inflation uncertainty and growth in a cash-in-advance economy
- Abstracts: Competitive equilibria for infinite-horizon economies with incomplete markets. Stabilizing monetary-injection policies
- Abstracts: Banking in computable general equilibrium economies. Stochastic equilibrium: learning by exponential smoothing
- Abstracts: A note on short-term intersectoral factor immobility. Stationary sunspot equilibrium in a cash-in-advance economy
- Abstracts: Non-steady-state equilibrium solution of a class of dynamic models. Industrial subsidies and technology adoption in general equilibrium