Is the Behavior of Hours Worked Consistent with Implicit Contract Theory?
检验了风险分担考虑下工作时长的决定因素，发现工作时长仅通过收入效应受工资影响，并使用PSED数据支持了扩展的风险分担模型。
This paper examines the determinants of hours worked when employment relationships are influenced by risk-sharing considerations. The environment considered is an extension of the standard symmetric-information risk-sharing model that allows for the possibility of enforcement problems on the part of both the employer and the employee. We show that this class of risk-sharing models unambiguously predicts hours to be influenced by wages only through an income effect. Using data from the PSED, we find evidence in favor of this extended version of the risk-sharing model.