This paper provides a review of literature regarding the concept of the psychological contract, a complex concept within organisation behaviour. Having explored the key dimensions of the psychological contract within the extant literature, we identify a gap in knowledge associated with the...

This paper proposes an explanation of the puzzling coexistence of elements of both inertia and dynamism in the Russian labor market. In an environment of high uncertainty, risk averse and heterogeneous workers face a trade-off between wages and insurance against risk. The firm proposes a...

We explore the role of firms in insuring non-verifiable output. As a device that allows workers to commit to thedelivery of their output, the firm arises endogenously as an alternative to the market if workers are sufficiently riskaverse and the firm can base its incentive payments on good...

We analyze the role of implicit contracts' (that is, informal agreements supported byquot; reputation rather than law) both within firms, for example in employment relationships between them, for example as hand-in-glove supplier relationships. We find that the optimalquot; organizational form...

Among the oldest and most pervasive economic institutions are bonded labor and serfdom. While seemingly exploitative, both bonded labor and serfdom are often not imposed on the laborers but voluntarily chosen. It is generally the lack of suitable alternatives which makes workers opt for a life...