Have Lazear-Style Implicit Contracts Disappeared? by Federal Trade Commission

Have Lazear-Style Implicit Contracts Disappeared?

Federal Trade Commission

38 pages missing pub info (editions)

nonfiction sociology informative medium-paced
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Description

A well-known theory (Lazear, 1979) argues that wage patterns in which younger workers are underpaid relative to marginal revenue product and older workers are overpaid relative to marginal revenue product can be understood as an implicit contract ...

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