Productivity and credibility in industry equilibrium.
I analyze a model of production in a competitive environment with heterogeneous firms. Efficient production requires individuals within the organization to take noncontractible actions for which rewards must be informally promised rather than contractually assured. The credibility of such promises o...
| Publicado en: | RAND Journal of Economics (Wiley-Blackwell) Vol. 50; no. 1; pp. 121 - 147 |
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| Formato: | Artículo |
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Wiley-Blackwell
Spring2019
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=134665224&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 134665224 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 07416261 56RJ jtl: RAND Journal of Economics (Wiley-Blackwell) issn: 07416261 maglogo: Y pubinfo: dt: Spring2019 vid: 50 iid: 1 pid: 480 pub: Wiley-Blackwell artinfo: ui: 134665224 10.1111/1756-2171.12264 ppf: 121 ppct: 26 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 325KB tig: atl: Productivity and credibility in industry equilibrium. aug: au: Powell, Michael affil: Northwestern University su: Production (Economic theory) Business enterprises Persons Equilibrium Rent charges (Feudal law) sug: subj: Production (Economic theory) Business enterprises Persons Equilibrium Rent charges (Feudal law) ab: I analyze a model of production in a competitive environment with heterogeneous firms. Efficient production requires individuals within the organization to take noncontractible actions for which rewards must be informally promised rather than contractually assured. The credibility of such promises originates from a firm's future competitive rents. In equilibrium, heterogeneous firms are heterogeneously constrained, and competitive rents are inefficiently concentrated at the top. I explore several policy and empirical implications of this result. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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