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Author Question: Why, in the labor market, are contracts often designed to include a variable salary component that ... (Read 73 times)

rlane42

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on: Apr 19, 2019

Why, in the labor market, are contracts often designed to include a variable salary component that is tied to some measure of performance?


◦ Such contracts are considered the fairest to employees under fair labor standard laws.
◦ Most people are risk-averse and thus variability in their compensation leads to higher total utility.
◦ Firms use such contracts to differentiate between high and low quality workers.
◦ These contracts tend to attract employees with the lowest probability of switching jobs.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by rlane42 on Apr 19, 2019

CAPTAINAMERICA

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Reply #1 on: Apr 19, 2019
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rlane42

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Reply #2 on: Apr 19, 2019
Thanks


CAPTAINAMERICA

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Reply #3 on: Apr 19, 2019
Welcome :)


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