This study demonstrates that a model with efficiency wages and imperfect information produces a Phillips curve relationship. Equations are derived for labor demand and the efficiency wage-setting condition, and shifts in these curves in response to aggregate demand shocks result in a...

This study develops models in which workers form expectations of average wages in choosing levels of effort and on-the-job search. It is assumed that information on lagged average wages is available at a low fixed cost, whilst acquiring other information requires an additional variable cost....

This study derives a reduced-form equation for the aggregate supply curve from a model in which firms pay efficiency wages and workers have imperfect information about average wages at other firms. If specific assumptions are made about workers’ expectations of average wages and about...

While much work in macroeconomics considers the formation of price expectations, there has been relatively little work analyzing wage expectations. This study develops models in which workers form expectations of average wages in choosing levels of effort and on-the-job search, under the...

This paper addresses the question of how to adequately model empirical variation in willingness to pay (WTP) for a public good and demonstrates the importance of appropriate modelling of heterogeneity for policy and decision making on public good provision. Even if on average voters are to gain...

For a neural network with sign-constrained weights weights three types of attractor can affect the dynamics: retrieval, spurious and uniform attractors. The uniform attractors can dominate the dynamics if there is a substancial weight-sign bias. We will show that it is possible to define...

Beliefs regarding the cause of low back pain differ between individual sufferers and health care professionals. One consequence of this is the potential acquisition of maladaptive attitudes and behaviour in relation to pain, and increases in the utilisation of primary care services (Health...