| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5060109 | Economics Letters | 2012 | 4 Pages |
Abstract
⺠Reciprocity is evolutionary stable in the gift-exchange game. ⺠The evolutionary equilibrium is efficient, i.e. maximal effort provided. ⺠In equilibrium, there is strong inequity in favor of the workers. ⺠Due to the inequality, employers may prefer inefficient contract theory solutions. ⺠Norm-based efficiency wages may be unstable over time.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Philipp Schliffke,