Rat race redux: adverse selection in the determination of work hours in law firms

Article Abstract:

Traditional economics dictate employees to maximize their number of working hours based on their wages. Adverse selection conditions emerge when as employees work longer hours when time is equated with an indicator that describes an employee characteristic which defines employment or promotion. These conditions generate rat race effects, where work standards may include inefficiently long work hours.

Research, Work hours, Compensation and benefits, Law firms, Wage payment systems, Pay structure

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Is there a trade-off between supervision and wages? An empirical test of efficiency wage theory

Article Abstract:

The efficiency wage theory presupposes that a trade-off exists between wages and supervision. Findings show the significant relations between high levels of supervision and lower wage levels. The efficiency wage theory holds true in the petrochemical industry where contract employment relationship clearly shows the trade-off between wages and supervision.

Petrochemical Manufacturing, Cyclic crudes and intermediates, Petrochemicals, Human resource management, Industrial efficiency, Economic efficiency, Petroleum chemicals industry, Petrochemicals industry, Supervision of employees, Employee supervision

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Is there a winner's curse in the labor market?

Article Abstract:

A winner's curse exists when a company provides counteroffers to workers who have been offered outside wages. When a raided firm anticipates outside wage offers, it may make reassignment decisions. In such cases and when exogenous turnover is possible, a winner's curse will not exist, especially if there are counteroffers.

Interpretation and construction, Labor market, Labor contracts

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