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The absence of an asset allocation clause works as a "discipline device" that mitigates the hold-up problem within the partnership.
In other words, a high level of unemployment acts as a worker discipline device, curbing opportunism.
However, to the best of our knowledge, no studies have linked the role of unemployment as discipline device to the employment protection legislation.
In their seminal paper, Shapiro and Stiglitz (1984) showed that unemployment can represent a "worker discipline device" in moral hazard contexts.
Although data limitations do not allow us to exclude other possible explanations for this result, it is consistent with the role of unemployment as a worker discipline device.
The finding of a positive association between absence spells and risk of dismissal would support the idea that unemployment acts as worker discipline device against shirking.
Similar(51)
We even discipline devices when they don't behave as desired.
The Republican Party, by contrast, for long used money as its central organizing tool and disciplining device.
Strategy acts as a motivating and disciplining device, which helps avoid organizational pathologies.
For decades now, supporters of the "shareholder rights" movement have portrayed it as a disciplining device that forces tired old corporations to restructure and redirects capital to more productive areas.
(Faced with a surging Bernie Sanders, that's what Hillary Clinton's campaign just did in Nevada, and it worked). The Republican Party, by contrast, for long used money as its central organizing tool and disciplining device.
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