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Wage Incentives in Labour-Managed and Profit Maximising Firms

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  • Drago, Robert
  • Turnbull, Geoffrey K

Abstract

The paper analyzes wage incentives in labor-managed (LMF) and profit maximizing (PMF) firms, considering competitive, individualized, and collective incentives. Partially collective incentives are optimal for LMFs unless workers strike binding effort-matching agreements, which imply the optimality of purely collective incentives. The PMF uses incentives that are less collective than workers would prefer. Copyright 1992 by Blackwell Publishers Ltd/University of Adelaide and Flinders University of South Australia

Suggested Citation

  • Drago, Robert & Turnbull, Geoffrey K, 1992. "Wage Incentives in Labour-Managed and Profit Maximising Firms," Australian Economic Papers, Wiley Blackwell, vol. 31(59), pages 311-324, December.
    • Handle: RePEc:bla:ausecp:v:31:y:1992:i:59:p:311-24
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    Cited by:

    1. Ohnishi, Kazuhiro, 2018. "Wage-Rise Contract and Labour-Managed Cournot Oligopoly with Complementary Goods," MPRA Paper 88235, University Library of Munich, Germany.
    2. Kazuhiro Ohnishi, 2008. "Strategic Investment In A New Mixed Market With Labor‐Managed And Profit‐Maximizing Firms," Metroeconomica, Wiley Blackwell, vol. 59(4), pages 594-607, November.
    3. Kazuhiro Ohnishi, 2009. "Capacity Investment and Mixed Duopoly with State-Owned and Labor-Managed Firms," Annals of Economics and Finance, Society for AEF, vol. 10(1), pages 49-64, May.
    4. Kazuhiro Ohnishi, 2008. "Strategic Commitment and International Mixed Competition with Domestic State-owned and Foreign Labor-managed Firms," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 64(4), pages 458-472, December.
    5. Chris Doucouliagos, 1997. "The Comparative Efficiency and Productivity of Labor-Managed and Capital-Managed Firms," Review of Radical Political Economics, Union for Radical Political Economics, vol. 29(2), pages 45-69, June.

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