Acemoglu, Daron (contributor); Antràs, Pol (contributor); … - 2005
Grossman-Hart-Moore�s theory of the �rm. We show
3Maskin and Tirole (1999) question whether the presence of nonveri … labor. Our framework
therefore leads to a theory of employment relationship complementary to that by Marglin (1974).
While … in his theory, given the employment relationship, the division of labor is used to extract more
rents from workers, in …