The Fair Wage-Effort Hypothesis and Unemployment
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ID: 290720
1990
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Abstract
This paper introduces the fair wage-effort hypothesis and explores its implications. This hypothesis is motivated by equity theory in social psychology and social exchange theory in sociology. According to the fair wage-effort hypothesis, workers proportionately withdraw effort as their actual wage falls short of their fair wage. Such behavior causes unemployment and is also consistent with observed cross-section wage differentials and unemployment patterns.
| Reference Key |
openalex_W2030351515
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|---|---|
| Authors | George A. Akerlof, Janet L. Yellen |
| Journal | the quarterly journal of economics |
| Year | 1990 |
| DOI |
10.2307/2937787
|
| URL | |
| Keywords | Keywords not found |
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