Insurance-markets Equilibrium with a Non-convex Labor Supply decision, Unobservable Effort, and Efficiency Wages of the "No-shirking" Type

Aleksandar Vasilev

EconStor Open Access Articles and Book Chapters, 2019, vol. X, issue 1 [accepted]

Abstract: The purpose of this paper is to describe the lottery- and insurance-market equilibrium in an economy with non-convex labor supply decision, unobservable effort, and efficiency wages of the no-shirking type a la Shapiro and Stiglitz (1984). The presence of indivisible labor creates a market incompleteness, which requires that an insurance market for (un)employment be put in operation to "complete" the market.

Keywords: Indivisible labor; Lotteries; Unobservable effort; No-shirking; Efficiency wages; Insurance (search for similar items in EconPapers)
JEL-codes: E1 E22 J41 (search for similar items in EconPapers)
Date: 2019
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https://www.econstor.eu/bitstream/10419/195932/1/ins_mkt_noshirking_wages.pdf (application/pdf)

Related works:
Journal Article: INSURANCE-MARKETS EQUILIBRIUM WITH A NON-CONVEX LABOR SUPPLY DECISION, UNOBSERVABLE EFFORT, AND EFFICIENCY WAGES OF THE “NO-SHIRKING” TYPE (2019)
Working Paper: Insurance-markets Equilibrium with a Non-convex Labor Supply decision, Unobservable Effort, and Efficiency Wages of the "No-shirking" Type (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:espost:195932

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