Abstract
Weitzman's analysis of the share economy contrasts fixed-wage and fixed-share contracts; this paper notes that neither is an optimal labor contract, rendering the comparison suspect. Given this comparison, though, share contracts may be superior to wage contracts in an economy characterized by a "macroeconomic externality," whereby firm-level employment decisions affect the demand for other firms' goods.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 421-426 |
| Number of pages | 6 |
| Journal | Journal of Comparative Economics |
| Volume | 10 |
| Issue number | 4 |
| DOIs | |
| State | Published - Dec 1986 |
All Science Journal Classification (ASJC) codes
- Economics and Econometrics
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