954 resultados para wages


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Title from cover.

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Mode of access: Internet.

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Title varies slightly.

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Vol. for 1953-1954 has section title: Major labor markets; issued in 3 pts.

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Description based on: 1993.

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Description based on: June 1997.

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Paged continuously; v.1: 304 p.; v.2: 1 p. l., 305-591, [1] p.

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In this paper, we extend the state-contingent production approach to principal–agent problems to the case where the state space is an atomless continuum. The approach is modelled on the treatment of optimal tax problems. The central observation is that, under reasonable conditions, the optimal contract may involve a fixed wage with a bonus for above-normal performance. This is analogous to the phenomenon of "bunching" at the bottom in the optimal tax literature.