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Firms want to maximize profits, and workers want to maximize utility. Workers can increase their utility by shirking, but this will reduce the profits of

Firms want to maximize profits, and workers want to maximize utility. Workers can increase their utility by shirking, but this will reduce the profits of the firm. This is an example of

oroblem.

an efficient allocation

a market

-

clearing

a principal

-

agent

a profit sharing

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