Wages and Employment with Firm-Specific Seniority

Article Abstract:

Under firm-specific seniority, the relationship of wages and employment are examined. If workers are risk averse, wages are determined independently of competitive offers. Senior wages rise above the senior marginal product, while junior wages fall below the junior marginal product. Junior employees remain anticipating wage increases and security.

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The Economic Role of the Nonprofit Firm

Article Abstract:

An optimal contracting problem can be solved by separating economic activity into for-profit and not-for-profit organizations. Nonprofit firms are socially optimal mechanisms. Nonprofit performance may be superior if output cannot be observed costlessly.

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The Internal Organization of the Firm and the Shape of Average Costs

Article Abstract:

A simple model of a firm is developed to determine the costs of coordination's effect on firm size. Per unit costs rise with scale because of the coordinating task of the firm if time costs are considered. Costs may rise at high output levels.

Management, Measurement, Industry, Industries, Cooperation (Economics), Cooperation

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