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Optimal At‐will Labour Contracts

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  • Ed Nosal

Abstract

An at‐will employment rule allows parties to sever their employment relationship for ‘a good reason, a bad reason or no reason at all’[Schawb, S. (1993) Life‐cycle justice: accommodating just cause and employment at will. Michigan Law Review, 92, 8‐‐62]. A specific performance employment rule allows any party to force the other party to perform as specified in the contract. Although the theory of labour contracting generally assumes enforcement by specific performance, in practice, the vast majority of non‐union employment relationships are mediated by an at‐will rule. When employment contracts are enforced by an at‐will rule, I show that the ‘standard’ counter‐intuitive predictions generated by standard labour contracting models disappear.

Suggested Citation

  • Ed Nosal, 2001. "Optimal At‐will Labour Contracts," Economica, London School of Economics and Political Science, vol. 68(270), pages 187-201, May.
    • Handle: RePEc:bla:econom:v:68:y:2001:i:270:p:187-201
    DOI: 10.1111/1468-0335.00241
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    Cited by:

    1. Patrick W Schmitz, 2022. "How (Not) to Purchase Novel Goods and Services: Specific Performance Versus at-will Contracts," The Economic Journal, Royal Economic Society, vol. 132(647), pages 2563-2577.

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