in Oxford Economic Papers
January 2014; p ublished online November 2012 .
Journal Article. Subjects: Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Wages, Compensation, and Labour Costs; Microeconomics; Human Resource Management. 10569 words.
Theories of psychology and empirical evidence suggest that the reference transactions against which workers judge fairness exhibit inertia. This paper shows that a fair-wage model with...
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