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dc.contributor.authorFehr, Ernsten_US
dc.contributor.authorGoette, Lorenzen_US
dc.contributor.authorZehnder, Christianen_US
dc.date.accessioned2009-01-21en_US
dc.date.accessioned2010-07-07T11:52:34Z-
dc.date.available2010-07-07T11:52:34Z-
dc.date.issued2008en_US
dc.identifier.piurn:nbn:de:101:1-2009010789en_US
dc.identifier.urihttp://hdl.handle.net/10419/35496-
dc.description.abstractIn this paper, we argue that important labor market phenomena can be better understood if one takes (i) the inherent incompleteness and relational nature of most employment contracts and (ii) the existence of reference-dependent fairness concerns among a substantial share of the population into account. Theory shows and experiments confirm, that even if fairness concerns were only to exert weak effects in one-shot interactions, repeated interactions greatly magnify the relevance of such concerns on economic outcomes. We also review evidence from laboratory and field experiments examining the role of wages and fairness on effort, derive predictions from our approach for entry-level wages and incumbent workers' wages, confront these predictions with the evidence, and show that reference-dependent fairness concerns may have important consequences for the effects of economic policies such as minimum wage laws.en_US
dc.language.isoengen_US
dc.publisherIZA Bonnen_US
dc.relation.ispartofseriesIZA discussion papers 3901en_US
dc.subject.jelC7en_US
dc.subject.jelD00en_US
dc.subject.jelD2en_US
dc.subject.jelD8en_US
dc.subject.jelJ2en_US
dc.subject.jelL2en_US
dc.subject.ddc330en_US
dc.subject.keywordFairnessen_US
dc.subject.keywordcontractsen_US
dc.subject.keywordwagesen_US
dc.subject.keywordefforten_US
dc.subject.keywordexperimentsen_US
dc.subject.stwArbeitsmarkten_US
dc.subject.stwVerhaltensökonomiken_US
dc.subject.stwGerechtigkeiten_US
dc.subject.stwArbeitsvertragen_US
dc.subject.stwLohnen_US
dc.subject.stwLeistungsmotivationen_US
dc.subject.stwTesten_US
dc.subject.stwInterner Arbeitsmarkten_US
dc.subject.stwMindestlohnen_US
dc.titleA behavioral account of the labor market: the role of fairness concernsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn589760734en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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