Insurance-markets Equilibrium with a Non-convex Labor Supply decision, Unobservable Effort, and Incentive ("Fair") Wages

Aleksandar Vasilev

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Abstract: The purpose of this note is to describe the lottery- and insurance-market equilibrium in an economy with non-convex labor supply decision, unobservable effort, and incentive ("fair") wages. The presence of indivisible labor creates a market incompleteness, which requires that an insurance market for employment be put in operation to "complete" the market.

Keywords: Indivisible labor; Lotteries; Insurance; Unobservable effort; fair wages (search for similar items in EconPapers)
JEL-codes: E1 J22 (search for similar items in EconPapers)
Date: 2018
New Economics Papers: this item is included in nep-ias and nep-mac
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Citations: View citations in EconPapers (2)

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Related works:
Journal Article: Insurance-markets Equilibrium with a Non-convex Labor Supply decision, Unobservable Effort, and Incentive ("Fair") Wages (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:esprep:183615

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