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each other. The contract may contain two types of incentives for the agent to work hard: a bonus and a threat of dismissal …
Persistent link: https://www.econbiz.de/10010877789
Behavioral economics documents the importance of status and self-image concerns in the workplace, but is largely silent about how to instrumentalize them to induce effort. Awards - widespread in the corporate sector and elsewhere - are motivators that derive their value from such social...
Persistent link: https://www.econbiz.de/10004979427
We conduct a field experiment in a naturally occurring labor environment and track whether the performance of workers …
Persistent link: https://www.econbiz.de/10010877759
We conduct a field experiment in a controlled work environment to investigate the effect of motivational talk and its … interaction with monetary incentives. We find that motivational talk significantly improves performance only if it is accompanied …
Persistent link: https://www.econbiz.de/10010693463
We conduct a field experiment where we vary both the presence of a gift exchange wage and the effect of the worker …
Persistent link: https://www.econbiz.de/10009421689
. Such behavior may call for high-powered incentives, so that increased effort by the worker little increases the income of … various assumptions about the object and generality of envy. Envy amplifies the effect of incentives on effort and, therefore …
Persistent link: https://www.econbiz.de/10005765867
This paper analyzes awards as a means of motivation prevalent in the scientific community, but so far neglected in the … economic literature on incentives, and discusses their relationship to monetary compensation. Awards are better suited than … complement, or even substitute for, monetary incentives. While we discuss awards in the context of academia, our conclusions …
Persistent link: https://www.econbiz.de/10005406082
reduce the effort costs of a worker, and analyze the optimal combination of motivational effort and monetary incentives. We … distinguish two cases. First, the firm owner chooses the intensity of motivation and bears the motivational costs. Second, another … conditions under which monetary incentives and motivational effort are substitutes or complements, and show that motivational …
Persistent link: https://www.econbiz.de/10010877648
We present results from a field experiment designed to measure the importance of managerial commitment to a contract … as a function of the difficulty of the terrain to be planted. During the experiment, workers began planting a terrain at …
Persistent link: https://www.econbiz.de/10010877743
Empirically, compensation systems generate substantial effort despite weak monetary incentives. We consider reciprocal … motivations as a source of incentives. We solve for the optimal contract in the basic principal-agent problem and show that … sources of incentives to best induce effort from the agent. Analyzing extended versions of the model allows us to examine how …
Persistent link: https://www.econbiz.de/10005766075