Are most workers in Finland part of a Union if one is accessible for their role ?
Akerlof and Yellen ( 1990 ) , responding to these criticisms and building on work from psychology , sociology , and personnel management , introduce “ the fair wage - effort hypothesis ” , which states that workers form a notion of the fair wage , and if the actual wage is lower , withdraw effort in proportion , so that , depending on the wage - effort elasticity and the costs to the firm of shirking , the fair wage may form a key part of the wage bargain .