Testing Fair Wage Theory |
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| Authors: | John D Burger Stephen J K Walters |
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| Institution: | (1) Department of Economics, Loyola College in Maryland, 4501 North Charles Street, Baltimore, MD 21210, USA |
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| Abstract: | Fairness considerations often are invoked to explain wage differences that appear unrelated to worker characteristics or job
conditions, but non-experimental tests of fair wage models are rare because market data rarely permit researchers to measure
individual workers’ productivity and its value. We use data from the baseball labor market to address this problem, and find
no support for fair wage theory. We do find, however, that fairness premia can be illusory: Wages appear to incorporate fairness
premia in regressions that control for variation in individuals’ physical output, but such premia evaporate when the value
of that output is held constant.
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| Keywords: | Fairness Efficiency wages Wage differentials |
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