Neoclassical economic theorys assumption of a strictly utility of money maximizing economic actor has been unable to explain such economic phenomena as involuntary unemployment and above market clearing wages. Efficiency wage theory, in its various forms, has provided some explanation for these labour market features. Akerlofs (1982) Fair Wage-Effort Hypothesis or Partial Gift Exchange model of the labour market explains involuntary unemployment through the productivity enhancing effects of higher wages. In Akerlofs model this is done through a sort of unspoken gift exchange in which higher wages given to the workers are returned to the firm in the form of higher effort or productivity. <p>The Partial Gift Exchange model can also be modeled in a laboratory setting where its various predictions and assumptions can be tested. This has been done by a number of researchers over the last 15 years, who have generally found support for the validity of the theory using a one sided oral auction procedure. This thesis seeks to conduct a similar experiment, but in the form of a survey, the focus of which is the relationship between wages and effort. <p>A number of the results of previous experiments supporting the Fair Wage-Effort Hypothesis have also been generated in the survey, for example a positive relationship between wages and effort. New and interesting findings not previously examined in the lab or not present in previous experiment were also present in the survey: the negative effect of wage inequity; a positive coefficient for the gender dummy variable; and the negative effect of unemployment insurance. <p>The survey has produced some new and interesting results, transporting the survey back into the laboratory setting from which it was inspired would provide an interesting comparison.
| Identifer | oai:union.ndltd.org:LACETR/oai:collectionscanada.gc.ca:SSU.etd-07312006-152307 |
| Date | 02 August 2006 |
| Creators | Meredith, Evan Edward |
| Contributors | Huq, M. Mobinul, Bishopp, William D., Altman, Morris |
| Publisher | University of Saskatchewan |
| Source Sets | Library and Archives Canada ETDs Repository / Centre d'archives des thèses électroniques de Bibliothèque et Archives Canada |
| Language | English |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://library.usask.ca/theses/available/etd-07312006-152307/ |
| Rights | unrestricted, I hereby certify that, if appropriate, I have obtained and attached hereto a written permission statement from the owner(s) of each third party copyrighted matter to be included in my thesis, dissertation, or project report, allowing distribution as specified below. I certify that the version I submitted is the same as that approved by my advisory committee. I hereby grant to University of Saskatchewan or its agents the non-exclusive license to archive and make accessible, under the conditions specified below, my thesis, dissertation, or project report in whole or in part in all forms of media, now or hereafter known. I retain all other ownership rights to the copyright of the thesis, dissertation or project report. I also retain the right to use in future works (such as articles or books) all or part of this thesis, dissertation, or project report. |
Page generated in 0.0117 seconds