Formula where to insert years of education and costs
—>has to be higher than education before, that employee has incentive to make this education years
Imitation scheme
Net utility company
Turnover rate and utiliy selection process
Two stage recruitment
Probation time:
Accept and reject
Range of costs were firm is using monitoring
Investment in on the job training
Expected productivity if consultant
stays
leaves
—>3 gehört noch nicht dazu
Scheme course decision
If they share couse costs
Basic of incencives
3 constraints
A´s opt effort
Condition A will work for P
Value P chooses for r
Assume perfect inform. —>opt wage?
Incentive Schemes with A´s risk aversion
—>opt e*
—>first best effort and conditions
—>Second best wage ß*
Workers max problem and opt effort
Manager with performance bonus
Last changed2 years ago
