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10.1007/s10683-020-09697-1 http://scihub22266oqcxt.onion/10.1007/s10683-020-09697-1 33613086!7883973!33613086     free     free     free Deprecated: Implicit conversion from float 213.6 to int loses precision in C:\Inetpub\vhosts\kidney.de\httpdocs\pget.php on line 534 Deprecated: Implicit conversion from float 213.6 to int loses precision in C:\Inetpub\vhosts\kidney.de\httpdocs\pget.php on line 534 Deprecated: Implicit conversion from float 213.6 to int loses precision in C:\Inetpub\vhosts\kidney.de\httpdocs\pget.php on line 534       Exp+Econ 2021 ; 24 (4): 1267-1293 Nephropedia Template TP {{tp|p=33613086|t=2021. Worker-firm relational contracts in the time of shutdowns: experimental evidence |pdf=|usr=}}{{33613086}} gab.com Text Worker-firm relational contracts in the time of shutdowns: experimental evidence JO: Exp Econ http://www.kidney.de/pget.php?&tw=1&pmid=33613086 #FOAvip Exogeneous disruptions in labor demand have become more frequent in recent times. The COVID-19 pandemic has resulted in millions of workers being repeatedly laid off and rehired according to local public health conditions. This may be bad news for market efficiency. Typical employment relations-which resemble non-enforceable (implicit) contracts-rely on reciprocity (Brown et al. in Econometrica 72:747-780, 2004), and hence could be harmed when workers' efforts no longer guarantee reemployment in the next period. In this paper we extend the BFF paradigm to include a per-period probability (0%, 10%, 50%) of publicly observable "shutdown", where a specific firm cannot contract with any workers for several periods. A Perfect Bayesian Equilibrium exists in which these shutdowns destabilize relationships, but do not harm efficiency. Our experiment shows that, remarkably, market efficiency can be maintained even with very frequent stochastic shutdowns. However, the dynamic of relational contracts changes from one where a worker finds stable employment to one where she juggles multiple employers, laying the burden of maintaining productivity upon workers and worsening worker-side inequality. SUPPLEMENTARY INFORMATION: The online version contains supplementary material available at (10.1007/s10683-020-09697-1). Twit Text FOAVip Worker-firm relational contracts in the time of shutdowns: experimental evidence ????Exp Econ http://www.kidney.de/pget.php?&tw=1&pmid=33613086 #FOAvip Twit Text # Free Paper on # # # # # LINK http://www.kidney.de/pget.php?&tw=1&pmid=33613086 #FOAvip English Wikipedia <ref>{{Cite pmid|33613086}}</ref> Worker-firm relational contracts in the time of shutdowns: experimental evidence #MMPMID33613086 Linardi S; Camerer C Exp Econ 2021[]; 24 (4): 1267-1293 PMID33613086show ga Exogeneous disruptions in labor demand have become more frequent in recent times. The COVID-19 pandemic has resulted in millions of workers being repeatedly laid off and rehired according to local public health conditions. This may be bad news for market efficiency. Typical employment relations-which resemble non-enforceable (implicit) contracts-rely on reciprocity (Brown et al. in Econometrica 72:747-780, 2004), and hence could be harmed when workers' efforts no longer guarantee reemployment in the next period. In this paper we extend the BFF paradigm to include a per-period probability (0%, 10%, 50%) of publicly observable "shutdown", where a specific firm cannot contract with any workers for several periods. A Perfect Bayesian Equilibrium exists in which these shutdowns destabilize relationships, but do not harm efficiency. Our experiment shows that, remarkably, market efficiency can be maintained even with very frequent stochastic shutdowns. However, the dynamic of relational contracts changes from one where a worker finds stable employment to one where she juggles multiple employers, laying the burden of maintaining productivity upon workers and worsening worker-side inequality. SUPPLEMENTARY INFORMATION: The online version contains supplementary material available at (10.1007/s10683-020-09697-1). äWorker-firm relational contracts in the time of shutdowns: experimenta(epmc).pdf DeepDyve Pubget Overpricing