What is Efficiency Wage
The term efficiency wages was introduced by Alfred Marshall to denote the wage per efficiency unit of labor. Marshallian efficiency wages are those calculated with efficiency or ability exerted being the unit of measure rather than time. That is, the more efficient worker will be paid more than a less efficient worker for the same amount of hours worked.
How you will benefit
(I) Insights, and validations about the following topics:
Chapter 1: Efficiency wage
Chapter 2: Labour economics
Chapter 3: Minimum wage
Chapter 4: New Keynesian economics
Chapter 5: Phillips curve
Chapter 6: Employment
Chapter 7: Principal-agent problem
Chapter 8: Personnel economics
Chapter 9: Signalling (economics)
Chapter 10: Labour market flexibility
Chapter 11: Compensating differential
Chapter 12: Insider-outsider theory of employment
Chapter 13: Ekkehart Schlicht
Chapter 14: Involuntary unemployment
Chapter 15: Union wage premium
Chapter 16: Monopsony
Chapter 17: Rehn-Meidner model
Chapter 18: Real rigidity
Chapter 19: Wage compression
Chapter 20: Shapiro-Stiglitz theory
Chapter 21: Gift-exchange game
(II) Answering the public top questions about efficiency wage.
(III) Real world examples for the usage of efficiency wage in many fields.
Who this book is for
Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Efficiency Wage.