This thesis is a theoretical study of employment relations between
hierarchical firms and individual workers. The focus point is on the characteristics
of the optimal contracts that are implicitiy entered into between the two parties.
The role of hierarchical firms in the collection of information about the
worker's abiUty is investigated. It is shown that, when the firm uses this
information to decide its job assignments/promotions and job signalling exists in the
labour market, the...[Show more]
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