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Employee Stock Purchase Plans: Gift or Incentive? Evidence from a Multinational Corporation

Bryson, Alex; Freeman, Richard B. - Institute for the Study of Labor (IZA) - 2014

Many large listed firms offer workers the opportunity to buy shares in the firm at discounted rates through employee stock purchase plans (ESPP). The discounted rate creates a gift exchange, where the firm hopes that workers who accept the gift reciprocate with greater loyalty and effort. But...

Persistent link: https://www.econbiz.de/10010959665

Transparency, Inequity Aversion, and the Dynamics of Peer Pressure in Teams: Theory and Evidence

Mohnen, Alwine; Pokorny, Kathrin; Sliwka, Dirk - Institute for the Study of Labor (IZA) - 2008

We provide an explanation for peer pressure in teams based on inequity aversion. Analyzing a two-period model with two agents, we find that the effect of inequity aversion strongly depends on the information structure. When contributions are unobservable, agents act as if they were purely...

Persistent link: https://www.econbiz.de/10005762201

Testing Canonical Tournament Theory: On the Impact of Risk, Social Preferences and Utility Structure

Sheremeta, Roman M.; Wu, Steven Y. - Institute for the Study of Labor (IZA) - 2012

We use experiments to test comparative statics predictions of canonical tournament theory. Both the roles of principal and agent are populated by human subjects, allowing us to test predictions for both incentive responses and optimal tournament design. Consistent with theory, we observed an...

Persistent link: https://www.econbiz.de/10009646321

Can Contracts Signal Social Norms? Experimental Evidence

Danilov, Anastasia; Sliwka, Dirk - Institute for the Study of Labor (IZA) - 2013

We investigate whether incentive schemes signal social norms and thus affect behavior beyond their direct economic consequences. A principal-agent experiment is studied in which prior to contract choice principals are informed about past actions of other agents and thus have more information...

Persistent link: https://www.econbiz.de/10010884174

Bonus Culture: Competitive Pay, Screening, and Multitasking

Benabou, Roland; Tirole, Jean - Institute for the Study of Labor (IZA) - 2013

talented workers leads to an escalating reliance on performance pay and other high-powered incentives, thereby shifting effort … distorts incentives downward in order to extract rents. More generally, as declining market frictions lead employers to compete …, while inequality tends to rise monotonically. Bonus caps and income taxes can help restore balance in agents' incentives and …

Persistent link: https://www.econbiz.de/10010635587

Should You Allow Your Agent to Become Your Competitor? On Non-Compete Agreements in Employment Contracts

Kräkel, Matthias; Sliwka, Dirk - Institute for the Study of Labor (IZA) - 2006

the firm generates implicit incentives for the agent. The principal prefers to impose such a clause if and only if the …

Persistent link: https://www.econbiz.de/10005703004

Team Governance: Empowerment or Hierarchical Control

Friebel, Guido; Schnedler, Wendelin - Institute for the Study of Labor (IZA) - 2007

We investigate a team setting in which workers have different degrees of commitment to the outcome of their work. We show that if there are complementarities in production and if the team manager has some information about team members, interventions that the manager undertakes in order to...

Persistent link: https://www.econbiz.de/10005703066

Optimal Incentive Contracts under Inequity Aversion

Englmaier, Florian; Wambach, Achim - Institute for the Study of Labor (IZA) - 2005

simple rationale for team based incentives in many environments. Fourth, the Sufficient Statistics Result is violated …

Persistent link: https://www.econbiz.de/10005566722

Looking After Number Two? Competition, Cooperation and Workplace Interaction

Barmby, Tim; Sessions, John G.; Zangelidis, Alexandros - Institute for the Study of Labor (IZA) - 2013

We build a model of worker interdependence in which two workers can either compete or cooperate and compare performance under either scenario to that of a single worker working in isolation. We show that whilst competition unequivocally reduces performance, cooperation may raise or lower...

Persistent link: https://www.econbiz.de/10010884115

Cooperatives in a Global Economy: Key Economic Issues, Recent Trends, and Potential for Development

Smith, Stephen C.; Rothbaum, Jonathan - Institute for the Study of Labor (IZA) - 2013

In this paper, we examine major trends and potential for cooperatives in the context of four prominent socio-economic issues: the lack of jobs, economic and social inequality, educational mobility, and the priority need for innovations. We present recent data on the amount and types of job...

Persistent link: https://www.econbiz.de/10010884382

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