Showing 1 - 10 of 17
We estimate a dynamic programming model of schooling decisions in which the degree of risk aversion can be inferred from schooling decisions. In our model, individuals are heterogeneous with respect to school and market abilities but homogeneous with respect to the degree of risk aversion. We...
Persistent link: https://www.econbiz.de/10005100552
We estimate a structural dynamic programming model of schooling decisions with unobserved heterogeneity in school ability and market ability on a sample taken from the National Longitudinal Survey of Youth (NLSY). Both the instantaneous utility of attending school and the wage regression...
Persistent link: https://www.econbiz.de/10005100588
We estimate a structural dynamic programming model of schooling decisions and obtain individual specific estimates of the local (and average) returns to schooling as well as the returns to experience. Homogeneity of the returns to human capital is strongly rejected in favor of a discrete...
Persistent link: https://www.econbiz.de/10005100599
We consider the response to incentives as an explanation for productivity differences within a firm that paid its workers piece rates. We provide a framework within which observed productivity differences can be decomposed into two parts: one due to differences in ability and the other due to...
Persistent link: https://www.econbiz.de/10005100605
Using a structural dynamic programming model, we investigate the relative importance of initial household human capital endowments and unobserved individual abilities in explaining cross-sectional differences in schooling attainments and wages. We evaluate the true intergenerational education...
Persistent link: https://www.econbiz.de/10005100633
alternative explanations and the general empirical content of agency theory. Nous appliquons la théorie de l'agence aux payes …We apply agency theory to the payroll records of a copper mine that paid a production bonus to teams of workers. As … transactions pour le choix de la forme du contrat observé dans cette mine. Notre stratégie d'estimation incorpore les restrictions …
Persistent link: https://www.econbiz.de/10005100684
We examine the effects of different sequences of work and rest on the daily productivity of workers who planted trees in the province of British Columbia, Canada, comparing the intertemporal productivity profiles of planters who were paid either fixed wages or piece rates. We find that planters...
Persistent link: https://www.econbiz.de/10005100685
Data from a field experiment are used to estimate the gain in productivity that is realized when workers are paid piece rates rather than fixed wages. The experiment was conducted within a tree-planting firm and provides daily observations on individual worker productivity under both copensation...
Persistent link: https://www.econbiz.de/10005100753
elasticity to be approximately 2.2. Structural estimation also allows us to perform policy experiments and to compare firm … the firm to implement the optimal contract as predicted by principal-agent theory. Pour que les prévisions politiques à l … théorie du principal-agent. …
Persistent link: https://www.econbiz.de/10005100762
The role of field experiments in evaluating the effect of compensation policies on worker productivity is considered. Particular attention is paid to the ability of a field experiment to identify the effect of a permanent change in firm policy. While field experiments solve endogeneity problems...
Persistent link: https://www.econbiz.de/10005100968