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Medical Marijuana Laws and Teen Marijuana Use
Anderson, D. Mark; Hansen, Benjamin; Rees, Daniel I. - Institute for the Study of Labor (IZA) - 2012
While at least a dozen state legislatures are considering bills to allow the consumption of marijuana for medicinal purposes, the federal government has recently intensified its efforts to close medical marijuana dispensaries. Federal officials contend that the legalization of medical marijuana...
Persistent link: https://www.econbiz.de/10011279312
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A Behavioral Account of the Labor Market: The Role of Fairness Concerns
Fehr, Ernst; Goette, Lorenz; Zehnder, Christian - Institute for the Study of Labor (IZA) - 2008
among a substantial share of the population into account. Theory shows and experiments confirm, that even if fairness …
Persistent link: https://www.econbiz.de/10005762059
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Contracts as Reference Points: Experimental Evidence
Fehr, Ernst; Hart, Oliver; Zehnder, Christian - Institute for the Study of Labor (IZA) - 2008
experimentally the behavioral forces stipulated in their theory. The evidence confirms the model's prediction that there is a …
Persistent link: https://www.econbiz.de/10005763665
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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...
Persistent link: https://www.econbiz.de/10005700964
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Reputations, Relationships and the Enforcement of Incomplete Contracts
MacLeod, W. Bentley - Institute for the Study of Labor (IZA) - 2006
This paper discusses the literature on the enforcement of incomplete contracts. It compares legal enforcement to enforcement via relationships and reputations. A number of mechanisms, such as the repeat purchase mechanism (Klein and Leffler (1981)) and efficiency wages (Shapiro and Stiglitz...
Persistent link: https://www.econbiz.de/10005233793
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Identity Changes and the Efficiency of Reputation Systems
Wibral, Matthias - Institute for the Study of Labor (IZA) - 2014
Reputation systems aim to induce honest behavior in online trade by providing information about past conduct of users …. Online reputation, however, is not directly connected to a person, but only to the virtual identity of that person. Users can … therefore shed a negative reputation by creating a new account. We study the effects of such identity changes on the efficiency …
Persistent link: https://www.econbiz.de/10010884234
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Coordination under the Shadow of Career Concerns
Koch, Alexander K.; Morgenstern, Albrecht - Institute for the Study of Labor (IZA) - 2009
To innovate, employees need to develop novel ideas and coordinate with each other to turn these ideas into better products and services. Work outcomes provide signals about employees' abilities to the labor market, and therefore career concerns arise. These can both be 'good' (enhancing...
Persistent link: https://www.econbiz.de/10005761666
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Mixed Up? That's Good for Motivation
Koch, Alexander K.; Peyrache, Eloic - Institute for the Study of Labor (IZA) - 2004
An essential ingredient in models of career concerns is ex ante uncertainty about an agent's type. This paper shows how career concerns can arise even in the absence of any such ex ante uncertainty, if the unobservable actions that an agent takes influence his future productivity. By...
Persistent link: https://www.econbiz.de/10005703606
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From Team Spirit to Jealousy: The Pitfalls of Too Much Transparency
Koch, Alexander K.; Morgenstern, Albrecht - Institute for the Study of Labor (IZA) - 2005
Free riding in team production arises because individual effort is not perfectly observable. It seems natural to suppose that greater transparency would enhance incentives. Therefore, it is puzzling that team production often lacks transparency about individual contributions despite negligible...
Persistent link: https://www.econbiz.de/10005703696
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Moral Hazard Contracts: Does One Size Fit All?
Koch, Alexander K.; Peyrache, Eloïc - Institute for the Study of Labor (IZA) - 2006
Incentive theory predicts that contract terms should respond to differences in agents’ productivities. Firms’ practice … standard agency theory if careers are marked by frequent transitions between employers, and agents have career concerns because …
Persistent link: https://www.econbiz.de/10005703757