Equilibrium Effects of Pay Transparency
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Francis Bacon coined the famous phrase “knowledge is power.” This simple idea is used to champion pay transparency to empower women and minority workers. Advocates argue that workers don’t know what their employer is willing to pay, and more information about coworker pay allows for renegotiations, which raise up and equalize wages, especially those of […] The post Equilibrium Effects of Pay Transparency appeared first on Microeconomic Insights .