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Employer and Employee Ignorance in Developing Countries: The Case of Trinidad and Tobago.

Abstract:

The authors examine the degree of employer and employee ignorance about reservation and offer wages in Trinidad and Tobago and find this to be considerable. On average employers pay more than 26% above workers' reservation wages, while employees earn 22% less than the maximum wage on Offer, ceteris paribus. However, there are some differences across sub-groups of jobs, particularly with regard to individuals' lack of information about the best wage offers. Some differences are also found comp...

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Journal:
Review of Development Economics
Volume:
12
Publication date:
2008-01-01
ISSN:
1363-6669
Language:
English
UUID:
uuid:0649d7ff-88b6-4b39-90f3-55d5ace87146
Local pid:
oai:economics.ouls.ox.ac.uk:12850
Deposit date:
2011-08-15

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