22.54        ndian     onom
                                                             (iii) Cultivation or milk production even
        wilDcAt strike                                             solely for domestic consumption.
     A strike called on by a group of employees without        Accordingly, as per Census of India, all persons
     the support of their organised trade union.          engaged in ‘work’ defined as participation in any
                                                          economically productive activity with or without
        williAmson trADe-off moDel                        compensation, wages or profit are workers. The
                                                          Reference period for determining a person as
     A model for evaluating the possible benefits
                                                          worker and non-worker is one year preceding the
     and detriments of a proposed merger that could
                                                          date of enumeration.
     be used in the application of a discretionary
     competition policy. The model was developed by            The Census classifies ‘Workers’ into two
     Oliver Williamson.                                   groups namely, Main Workers (those workers who
                                                          had worked for the major part of the reference
                                                          period, i.e., 6 months or more) and Marginal
        winner’s curse
                                                          Workers (those workers who had not worked for
     The possibility that the winning bidder in an        the major part of the reference period i.e. less
     auction will pay too much for an asset since the     than 6 months). The Main workers are classified
     highest bidder places a higher value on the asset    on the basis of Industrial category of workers into
     than all other bidders.                              the following four categories: (i) Cultivators; (ii)
                                                          Agricultural Labourers; (iii) Household Industry
        withholDing tAx                                   Workers; and (iv) Other Workers.
                                                               [See entry ‘Non-Worker’ also.]
     A tax imposed on the income             on a foreign
     portfolio (investments). This tax      is imposed to
     discourage foreign investments,         to encourage     worker populAtion rAtio
     domestic investment, and to raise      money for the The employment-to-population ratio is defined
     government.                                          as the proportion of an economy’s working-age
                                                          population that is employed. As an indicator,
        worker (census Definition)                        the employment-to-population ratio provides
                                                          information on the ability of an economy to create
     The first definition of ‘worker’ by Census was given
                                                          jobs. Worker population ratio (WPR) is defined
     in 1872. Over time the term ‘work’ and ‘worker’ as
                                                          as the number of persons employed per thousand
     defined by Census of India have undergone several
                                                          persons [WPR= No. of employed persons X 1000/
     amendments to suit the changing dimensions of
                                                          Total population]. Worker Population Ratio is
     work. ‘Work’ is defined as participation in any
     economically productive activity with or without     an indicator used for analyzing the employment
     compensation, wages or profit. Such participation    situation in the country. This is also useful in
     may be physical and/or mental in nature. Work        knowing the proportion of population that is
     involves not only actual work but also includes –    actively contributing to the production of goods
                                                          and services in the economy.
          (i) Effective supervision and direction of
         (ii) Part time help or unpaid work on farm,
               family enterprise or in any other economic Government programmes which make the
               activity; and                              receipt of unemployment-related benefits (as