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Rank-Order Tournaments as Optimum Labor Contracts

Lazear, Edward P. - 1979

This paper analyzes compensation schemes which pay according to an individual's ordinal rank in an organization rather than his output level. When workers are risk neutral, it is shown that wages based upon rank induce the same efficient allocation of resources as an incentive reward scheme...

Persistent link: https://www.econbiz.de/10012478746

Incentives and Wage Rigidity

Lazear, Edward P. - 1984

With the growth of the literature on incentive compensation has come the belief by some that incentive pay may be less rigid than pay that is not designed to effect incentives. Some have gone so far as to argue that this may explain differences in unemployment rates across countries. it is shown...

Persistent link: https://www.econbiz.de/10012477796

The Peter Principle : Promotions and Declining Productivity

Lazear, Edward P. - 2001

Many have observed that individuals perform worse after having received a promotion. The most famous statement of the idea is the Peter Principle, which states that people are promoted to their level of incompetence. There are a number of possible explanations. Two are explored. The most...

Persistent link: https://www.econbiz.de/10012470635

Output-based Pay : Incentives or Sorting?

Lazear, Edward P. - 1999

of the typical American firm. Variable pay is usually touted as a way to provide incentives to managers whose interests … received much attention, but that is consistent with may of the facts, is selection. Managers and industry specialists may have … information about a firm's prospects that is unavailable to outside investors. In order to induce managers to be truthful about …

Persistent link: https://www.econbiz.de/10012471362

Incentive Contracts

Lazear, Edward P. - 1986

Persistent link: https://www.econbiz.de/10012477157

The Value of Bosses

Lazear, Edward P. - 2012

How and by how much do supervisors enhance worker productivity? Using a company-based data set on the productivity of technology-based services workers, supervisor effects are estimated and found to be large. Replacing a boss who is in the lower 10% of boss quality with one who is in the upper...

Persistent link: https://www.econbiz.de/10012460346

Educational Production

Lazear, Edward P. - 1999

their classmates do worse. The theory presented below reconciles all of these facts by recognizing that classroom teaching … ranges away from equilibrium levels will adversely affect educational output. The theory argues for a particular non … by lowering class size. The theory provides a measurable and operational way to define school quality that can be tested …

Persistent link: https://www.econbiz.de/10012471435

Producers and Predators

Grossman, Herschel I. - 1999

This paper explores a series of general-equilibrium models in which people can choose to be either producers or predators, and in which producers can allocate their resources either to production or to guarding their production against predators. The analysis shows how the ratio of predators to...

Persistent link: https://www.econbiz.de/10012471640

On the Inception of Rational Bubbles in Stock Prices

Diba, Behzad T. - 1986

Persistent link: https://www.econbiz.de/10012477082

Rational Bubbles in Stock Prices?

Diba, Behzad T. - 1985

This paper reports empirical tests for the existence of rational bubbles in stock prices. The analysis focuses on a familiar model that defines market fundamentals to be the expected present value of dividends, discounted at a constantrate, and defines a rational bubble to be a self-confirming...

Persistent link: https://www.econbiz.de/10012477310