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Industrial fatigue Redux

Diego Nocetti ()

Economics Letters, 2008, vol. 99, issue 2, 286-289

Abstract: This paper presents a gift-exchange labor market model in which workers are prone to exhaustion. Although norms of reciprocity and fairness indicate that firms and workers must exchange 'gifts' in the form of higher wages and higher effort respectively, these incentives are mitigated by the evolution of fatigue and, therefore, the dynamic efficiency wage is lower than its static counterpart.

Date: 2008
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