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Labour Discipline Model Assignment

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Added on  2019-11-19

Labour Discipline Model Assignment

   Added on 2019-11-19

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Incomplete Contractsa)It would be necessary to introduce an incentive where the lecturer will receive a significant portion of additional compensation in case nearly more than half of the class reports good grades. This might positively affect the level of effort that the lecturer puts into teaching.b)It may be difficult to include in the contract the nature of measure used in assessing the performance of the lecturer. This is because different factors may influence performance at a given point in time.Economic Renta)Actual Amount Earned = 25 *40 * 63 = 63000Expected Amount = 535 * 63/2= 16852.5Economic Rent = 63000 - 16852.5 - 12600= 33547.5b)In this case, the employees experience nearly zero or negative economic rent especially due to the work conditions that they are exposed to. For example they are exposed to working overtime without additional compensation. Also the food coupons they receive in exchange for work can only afford them rice or corn. In addition punitive measures aretaken against the workers due to insubordination. This means that there is a high level fo disutility of the laborers efforts compared to the wages that thy are provided with.Labour Discipline Model
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