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The primary reason in a neoclassical model would be a lack of perfect information, wouldn't it. An employee may work for less than the value they are creating
by crc32 12y ago
The primary reason in a neoclassical model would be a lack of perfect information, wouldn't it.
An employee may work for less than the value they are creating when - not being omniscient - they are unable to correctly value their work.
- ghshephard 12y agoThat's the best response in this thread, and I think the most correct.