Fishermen around the world are usually remunerated by shares. Iceland is no exception in that respect. The fixed wage systems,that have been tried out, have been short- lived and their utilization limited. The fundamental question asked in this paper is: Why do almost all vessel owners use the...

Icelandic university teachers, the Ministry of Finance and the University of Iceland have been conducting an interesting experiment by changing the form of remuneration of university teachers in a fundamental way. This paper accounts for the development of university teachers salaries the last...