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The Spirit of Delta: A Study in Transactions

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Type: Conference Paper
Author: Backhaus, Jürgen
Conference: Annual Meeting of the Public Choice Society
Location: Phoenix, AZ
Conf. Date: 1984
Date: 1984
URI: https://hdl.handle.net/10535/5667
Sector: Social Organization
Subject(s): public choice
transaction costs
Abstract: "In this paper I want to argue that a different and less costly strategy than wage cutting is indeed available. In drawing upon the economic literature on gift relationships, cases are considered in which it is rational for workers to engage in voluntary giving to their company. Correspondingly it may be rational for the company, instead of seeking wage reductions, to deliberately create a climate which makes giving rational attractive and easy."

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