On the price and structural efficiency in Farrell's model

Article Abstract:

A mean variance model is developed to characterize the price efficiency at the firm level in Farrell's model that defines the production frontier. Problems of estimating structural efficiency at the industry level are also discussed. It is shown that the theory of stochastic dominance can be used to compare the efficiency distribution of two or more industries. The model is also proposed for combining the two measures of production and cost.

Analysis, Industrial efficiency, Economic efficiency, Production functions (Economics)

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The interaction between efficiency wage theories and labour turnover costs

Article Abstract:

The author uses a simple model to show that a link between wages and effort reinforces the effect of employee turnover costs on wages.

Economic aspects, Employee turnover, Labour turnover, Labour, Labor

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Wage bargaining versus efficiency wages: a synthesis

Article Abstract:

The author shows that wage bargaining provides higher wages and lower employment than Shapiro-Stiglitz' efficiency wage model.

Negotiation, mediation and arbitration

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