The efficient wage theory pays attention to the wage incentive effect.

效率工资理论注重工资的激励作用。

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Efficiency wage theory holds that higher-than-market-rate wage payment may imply less total costs and hence greater profit to the business firm.

效率工资理论认为，支付比市场工资更高的工资，劳动总成本可能更小，企业能获得更多的利润。

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First, a literature review is done about wage theory and compensation theory in this thesis and the efficiency wage theory is focused in details.

本文首先对工资理论与薪酬理论作了一个简单的回顾，并重点阐述了效率工资理论。

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My recent Forbes article about the minimum wage contains some claims, facts, and figures based on economic theory and an extensive body of research by economists who have studied the employment effects of the minimum wage.

FORBES: Resources on the Minimum Wage

The theory is that as people lose their jobs, the pressure for wage rises diminishes.

BBC: Whatever happened to full employment?

In theory, we can expect people to invest the difference between the minimum wage and the minimum they would be willing too accept in a job search.

FORBES: Should We Care About the Minimum Wage?