Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/35496 
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dc.contributor.authorFehr, Ernsten
dc.contributor.authorGoette, Lorenzen
dc.contributor.authorZehnder, Christianen
dc.date.accessioned2009-01-21-
dc.date.accessioned2010-07-07T11:52:34Z-
dc.date.available2010-07-07T11:52:34Z-
dc.date.issued2008-
dc.identifier.piurn:nbn:de:101:1-2009010789en
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
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x3901en
dc.subject.jelC7en
dc.subject.jelD00en
dc.subject.jelD2en
dc.subject.jelD8en
dc.subject.jelJ2en
dc.subject.jelL2en
dc.subject.ddc330en
dc.subject.keywordFairnessen
dc.subject.keywordcontractsen
dc.subject.keywordwagesen
dc.subject.keywordefforten
dc.subject.keywordexperimentsen
dc.subject.stwArbeitsmarkten
dc.subject.stwVerhaltensökonomiken
dc.subject.stwGerechtigkeiten
dc.subject.stwArbeitsvertragen
dc.subject.stwLohnen
dc.subject.stwLeistungsmotivationen
dc.subject.stwTesten
dc.subject.stwInterner Arbeitsmarkten
dc.subject.stwMindestlohnen
dc.titleA behavioral account of the labor market: the role of fairness concerns-
dc.type|aWorking Paperen
dc.identifier.ppn589760734en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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