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- W2779439176 abstract "Shapiro and Stiglitz model on efficiency wages shows that worker owned firms perform higher levels of wage and employment than in investor owner firms, but empirical evidence doesn’t support the first result. Starting by the economic literature on workers cooperatives we extend the Shapiro and Stiglitz’s analysis by introducing horizontal control among worker members and employer opportunism. Our results reconcile theory and empirical record showing how in cooperatives both unemployment and wages can be lower than in investor owned companies." @default.
- W2779439176 created "2018-01-05" @default.
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- W2779439176 date "2017-01-01" @default.
- W2779439176 modified "2023-09-27" @default.
- W2779439176 title "Equilibrium unemployment as a worker insurance device: Worker insurance and wage setting in worker owned enterprises" @default.
- W2779439176 hasPublicationYear "2017" @default.
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