Guy, Frederick (contributor); Skott, Peter (contributor) - 2007
�s ignorance of the state
of nature in which they operate leads, ceteris paribus, to higher wages. Poor information
systems reduce … workers is enhanced and the level of e� ciency
wages tends to increase. This holds whether the latter is understood as taking …, including the e� ciency wage model we use below, is that wages are an
increasing function of the sensitivity of the employer …