This paper proposes a new unified theory of sociobehavioral forces. The goal of the new theory isto integrate theories describing five sociobehavioral processes - comparison (including justiceand self-esteem), status, power, identity, and happiness - bringing under a single theoreticalumbrella...

This paper develops a framework for studying individuals ideas about what constitutes justcompensation for chief executive officers (CEOs) and reports estimates of just CEO pay andthe principles guiding ideas of justice. The sample consists of students pursuing a Master ofBusiness Administration...

In many countries, non-compliance with minimum wage legislation is widespread, andauthorities may be seen as having turned a blind eye to a legislation that they havethemselves passed. But if enforcement is imperfect, how effective can a minimum wage be?And if non-compliance is widespread, why...

Fungibility of money is a central principle in economics. It implies that any unit of money is substitutable for another and that the composition of income is irrelevant for consumption. We find in a field experiment that even in a simple, incentivized setup many subjects do not treat money as...

We provide evidence on how two important types of institutions - dismissal barriers, and bonus pay - affect contract enforcement behavior in a market with incomplete contracts and repeated interactions. Dismissal barriers are shown to have a strong negative impact on worker performance, and...

Many decision models in marketing science and psychology assume that a consumer chooses by proceeding sequentially through a checklist of desirable properties. These models are contrasted to the utility maximization model of rationality in economics. We show on the contrary that the two...

This paper studies the mental distress caused by bereavement. The largest emotional lossesare from the death of a spouse; the second-worst in severity are the losses from the death ofa child; the third-worst is the death of a parent...

Channeling human resources into the right occupations has historically been a key toeconomic prosperity. Occupational choices are not only driven by the material rewardsassociated with the various occupations, but also by the esteem that they confer...

Die deutsche Arbeitsmarktpolitik ist im Zuge der Hartz-Reformen grundsätzlich neustrukturiert und systematisch evaluiert worden. Die vorliegenden Evaluationsberichte derersten drei Hartz-Gesetze belegen nun vielfach, welche Instrumente der aktivenArbeitsmarktpolitik sich durch ihre Wirksamkeit...

This paper analyzes data from a novel field experiment designed to test the impact of twodifferent insurance products and a secret saving device on solidarity in risk-sharing groupsamong rural villagers in the Philippines. Risk is simulated by a lottery. Risk-sharing ispossible in solidarity...