Profit Sharing, Employment Efficiency and Wage Stability
研究了在需求不确定下，风险中性企业与风险规避工人之间的合同，发现利润分享能同时实现就业效率和最优风险分担，且工资在不同状态下保持稳定。
A contract between a risk-neutral firm and its risk-averse workers is considered under uncertainty about product demand. The authors show that profit sharing can be used to attain the efficient level of employment and, at the same time, preserve optimal risk sharing between the parties. Optimal profit sharing does not imply wage variability; instead, wages are stabilized across states. Copyright 1995 by The editors of the Scandinavian Journal of Economics.