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- catalog abstract "Human agency means the ability and desire of individuals to choose how well they work and how they work. The central role of agency can be traced to the work of the late Harvey Leibenstein, inventor of x-efficiency theory and contributor to principal-agent theory. In this book, the author extends the basic agency model where choice of effort affects productivity and efficiency to one in which choice of effort also affects choice of technology. Further, the author argues that higher wages do not necessarily mean lower profits - for instance, higher wages may "shock" a firm into becoming more x-efficient, thus raising its marginal-product-of-labor curve. The book argues against traditional neoclassical beliefs including such ideas as competitive markets erode discrimination and that the integration of firms through mergers and acquisitions can save substantial transaction costs. In summary, this book calls for a new approach to the study of economics from a socio-economic and behavioral perspective.".
- catalog contributor b10586268.
- catalog created "c1996.".
- catalog date "1996".
- catalog date "c1996.".
- catalog dateCopyrighted "c1996.".
- catalog description "Human agency means the ability and desire of individuals to choose how well they work and how they work. The central role of agency can be traced to the work of the late Harvey Leibenstein, inventor of x-efficiency theory and contributor to principal-agent theory.".
- catalog description "In this book, the author extends the basic agency model where choice of effort affects productivity and efficiency to one in which choice of effort also affects choice of technology. Further, the author argues that higher wages do not necessarily mean lower profits - for instance, higher wages may "shock" a firm into becoming more x-efficient, thus raising its marginal-product-of-labor curve. The book argues against traditional neoclassical beliefs including such ideas as competitive markets erode discrimination and that the integration of firms through mergers and acquisitions can save substantial transaction costs. In summary, this book calls for a new approach to the study of economics from a socio-economic and behavioral perspective.".
- catalog description "Includes bibliographical references (p. [119]-128) and index.".
- catalog description "Preface / Shlomo Maital -- Ch. I. Introduction: Wrestling With the Neoclassical Colossus -- Ch. II. Human Agency as a Determinant of Material Welfare -- Ch. III. Interfirm, Interregional, and International Differences in Labor Productivity: Variations in the Levels of X-Inefficiency as a Function of Differential Labor Costs -- Ch. IV. High and Low Wage Paths to Economic Growth: A Behavioral Model of Endogenous Economic Growth -- Ch. V. The Economics of Exogenous Increases in Wage Rates in a Behavioral/X-Efficiency Model of the Firm -- Ch. VI. Labor Market Discrimination, Pay Inequality and Effort Variability: An Alternative to the Neoclassical Model -- Ch. VII. A Critical Appraisal of Corporate Size and the Transaction Cost-Economizing Paradigm.".
- catalog extent "xii, 133 p. :".
- catalog hasFormat "Human agency and material welfare.".
- catalog identifier "0792398181 (acid-free paper)".
- catalog isFormatOf "Human agency and material welfare.".
- catalog issued "1996".
- catalog issued "c1996.".
- catalog language "eng".
- catalog publisher "Boston : Kluwer Academic Publishers,".
- catalog relation "Human agency and material welfare.".
- catalog subject "338.5 20".
- catalog subject "Competition, Imperfect.".
- catalog subject "Free enterprise.".
- catalog subject "HB95 .A47 1996".
- catalog subject "Labor costs.".
- catalog subject "Labor market.".
- catalog subject "Neoclassical school of economics.".
- catalog tableOfContents "Preface / Shlomo Maital -- Ch. I. Introduction: Wrestling With the Neoclassical Colossus -- Ch. II. Human Agency as a Determinant of Material Welfare -- Ch. III. Interfirm, Interregional, and International Differences in Labor Productivity: Variations in the Levels of X-Inefficiency as a Function of Differential Labor Costs -- Ch. IV. High and Low Wage Paths to Economic Growth: A Behavioral Model of Endogenous Economic Growth -- Ch. V. The Economics of Exogenous Increases in Wage Rates in a Behavioral/X-Efficiency Model of the Firm -- Ch. VI. Labor Market Discrimination, Pay Inequality and Effort Variability: An Alternative to the Neoclassical Model -- Ch. VII. A Critical Appraisal of Corporate Size and the Transaction Cost-Economizing Paradigm.".
- catalog title "Human agency and material welfare : revisions in microeconomics and their implications for public policy / Morris Altman.".
- catalog type "text".