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Falk, Armin; Kosfeld, Michael - Institute for the Study of Labor (IZA) - 2004

opportunistically. We find that most principals in our experiment do not restrict the agent’s choice set but trust that the agent will … perform well voluntarily. Principals who trust induce, on average, a higher performance and hence earn higher payoffs than …

Persistent link: https://www.econbiz.de/10005762323

Relational Contracts and the Nature of Market Interactions

Brown, Martin; Falk, Armin; Fehr, Ernst - Institute for the Study of Labor (IZA) - 2003

We provide evidence that long-term relationships between trading parties emerge endogenously in the absence of third party enforcement of contracts and are associated with a fundamental change in the nature of market interactions. Without third party enforcement, the vast majority of trades are...

Persistent link: https://www.econbiz.de/10005703546

Performance Pay, Group Selection and Group Performance

Königstein, Manfred; Ruchala, Gabriele K. - Institute for the Study of Labor (IZA) - 2007

agents with different productivities. In contrast, considerations of trust, reciprocity and cooperation - the social …

Persistent link: https://www.econbiz.de/10005822552

Legitimacy of Control

Schnedler, Wendelin; Vadovic, Radovan - Institute for the Study of Labor (IZA) - 2007

What is the motivational effect of imposing a minimum effort requirement? Agents may no longer exert voluntary effort but merely meet the requirement. Here, we examine how such hidden costs of control change when control is considered legitimate. We study a principalagent model where control...

Persistent link: https://www.econbiz.de/10005822988

Effects of Religiosity on Social Behaviour: Experimental Evidence from a Representative Sample of Spaniards

Brañas-Garza, Pablo; Espín, Antonio M.; Neuman, Shoshana - Institute for the Study of Labor (IZA) - 2013

paradigmatic economic games: the dictator (DG), ultimatum (UG), and trust (TG) games. A large carefully designed sample of a …, bargaining behaviour and sense of fairness/equality, trust, and positive reciprocity. Three dimensions of religiosity are …

Persistent link: https://www.econbiz.de/10010701329

On the Economics and Biology of Trust

Fehr, Ernst - Institute for the Study of Labor (IZA) - 2008

In recent years, many social scientists have claimed that trust plays an important role in economic and social … transactions. Despite its proposed importance, the measurement and the definition of trust seem to be not fully settled, and the … identification of the exact role of trust in economic interactions has proven to be elusive. It is still not clear whether trust is …

Persistent link: https://www.econbiz.de/10005700964

Divide et Impera: Negotiating with a Stakeholder

Manzini, Paola - Institute for the Study of Labor (IZA) - 2002

In many kinds of bilateral negotiations the resolution of the issues at stake has an impact which extends beyond the remits of the parties directly involved (e.g. labour negotiations in sectors of public interest, where a strike would impact on the public at large). Once this is recognised,...

Persistent link: https://www.econbiz.de/10005233872

The Perception of Lethal Risks: Evidence from a Laboratory Experiment

Schubert, Manuel; Brück, Tilman - Institute for the Study of Labor (IZA) - 2014

We run a novel experiment to explore the relationship between the perception of real-life risks and the demand for risk reduction. Subjects play a series of loss lotteries in which the odds are matched to the likelihood of lethal events in real life. For each risk, subjects can pay premiums in...

Persistent link: https://www.econbiz.de/10010959599

Statistical Power of Within and Between-Subjects Designs in Economic Experiments

Bellemare, Charles; Bissonnette, Luc; Kröger, Sabine - Institute for the Study of Labor (IZA) - 2014

This paper discusses the choice of the number of participants for within-subjects (WS) designs and between-subjects (BS) designs based on simulations of statistical power allowing for different numbers of experimental periods. We illustrate the usefulness of the approach in the context of field...

Persistent link: https://www.econbiz.de/10010959685

De Gustibus Non Est Disputandum: An Experimental Investigation

Dasgupta, Utteeyo; Gangadharan, Lata; Maitra, Pushkar; … - Institute for the Study of Labor (IZA) - 2014

The goal of this paper is to examine stability in preferences using the Stigler-Becker state-dependent framework. Using a randomized intervention that changes the opportunity sets of individuals we construct a unique panel data from an artefactual field experiment and evaluate whether the change...

Persistent link: https://www.econbiz.de/10010959729

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