Economics of participation
Encyclopedia
Economics of participation is an umbrella term spanning the economic analysis of worker cooperative
s, labor managed firms, profit sharing
, gain sharing, employee ownership, works councils, codetermination, and other programs and policies by which employees participate in decision making and or financial results in firms.
Worker cooperative
A worker cooperative is a cooperative owned and democratically managed by its worker-owners. This control may be exercised in a number of ways. A cooperative enterprise may mean a firm where every worker-owner participates in decision making in a democratic fashion, or it may refer to one in which...
s, labor managed firms, profit sharing
Profit sharing
Profit sharing, when used as a special term, refers to various incentive plans introduced by businesses that provide direct or indirect payments to employees that depend on company's profitability in addition to employees' regular salary and bonuses...
, gain sharing, employee ownership, works councils, codetermination, and other programs and policies by which employees participate in decision making and or financial results in firms.