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- August 2013
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The Timing of Pay
By: Christopher Parsons and E. Van Wesep
There exists large and persistent variation in not only how, but when employees are paid, a fact unexplained by existing theory. This paper develops a simple model of optimal pay timing for firms. When workers have self-control problems, they under-save... View Details
Keywords: Payday Lending; Hyperbolic Discounting; Self-control Problems; Pay Frequency; Payday Loan Legislation; Paycheck Frequency; Time Inconsistency; Wages; Behavior; Employee Relationship Management
Parsons, Christopher, and E. Van Wesep. "The Timing of Pay." Journal of Financial Economics 109, no. 2 (August 2013): 373–397.