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Task Mismatch and Salary Penalties : Evidence from the Biomedical PhD Labor Market
Diethorn, Holden A.; Marschke, Gerald - National Bureau of Economic Research - 2023
We use the labor market for doctorates in the biomedical sciences, where career dislocation is common, as a case study of skill-task mismatch and its consequences. Using longitudinal, worker-level data on biomedical doctorates, we investigate mismatch as an explanation for the negative pecuniary...
Persistent link: https://www.econbiz.de/10014226116
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Fund Flows and Income Risk of Fund Managers
Cen, Xiao; Dou, Winston Wei; Kogan, Leonid; Wu, Wei - National Bureau of Economic Research - 2023
Investment fund managers make asset allocation decisions on behalf of a significant segment of US households. To elucidate the incentives they operate under, as well as the income and career risks they face, we construct a unique and novel dataset, which encompasses detailed information on the...
Persistent link: https://www.econbiz.de/10014447307
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On the Role of Learning, Human Capital, and Performance Incentives for Wages
Camargo, Braz; Lange, Fabian; Pastorino, Elena - National Bureau of Economic Research - 2022
in the context of a model that combines three key mechanisms for wage growth and dispersion: employer learning about … characteristic of settings of moral hazard; (ii) the insurance that firms provide against the wage risk due to the uncertainty about … source of wage growth and dispersion over the life cycle …
Persistent link: https://www.econbiz.de/10013334409
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Yesterday's Heroes : Compensation and Creative Risk-Taking
Cheng, Ing-Haw - 2010
We study the relationship between compensation and risk-taking among finance firms using a neglected insight from principal-agent contracting with hidden action and risk-averse agents. If the sensitivity of pay to stock price or slope does not vary with stock price volatility, then total...
Persistent link: https://www.econbiz.de/10012462481
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Optimal Executive Compensation vs. Managerial Power : A Review of Lucian Bebchuk and Jesse Fried's "Pay without Performance
Weisbach, Michael S. - 2006
This essay reviews Bebchuk and Fried's "Pay without Performance: The Unfulfilled Promise of Executive Compensation". Bebchuk and Fried criticize the standard view of executive compensation, in which executives negotiate contracts with shareholders that provide incentives that motivate them to...
Persistent link: https://www.econbiz.de/10012465861
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Reaching for the Stars : Who Pays for Talent in Innovative Industries?
Andersson, Fredrik - 2006
Innovation in the U.S. economy is about employing and rewarding highly talented workers to produce new products. Using unique longitudinal matched employer-employee data, this paper makes a key connection between talent and firms in markets with risky product innovations. We show that software...
Persistent link: https://www.econbiz.de/10012466229
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Labor in the Boardroom
Jäger, Simon - 2019
capital stock, the capital-labor ratio, and the capital share all increase. Shared governance does not raise wage premia or …
Persistent link: https://www.econbiz.de/10012480463
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Moral Hazard and Unemployment in Competitive Equilibrium
Rey, Patrick; Stiglitz, Joseph E. - National Bureau of Economic Research - 2024
are instead determined endogenously. We simultaneously extend the standard effort efficiency-wage model by incorporating …
Persistent link: https://www.econbiz.de/10014635663
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Labor Market Matching, Wages, and Amenities
Lamadon, Thibaut; Lise, Jeremy; Meghir, Costas; Robin, … - National Bureau of Economic Research - 2024
write wage contracts. We develop a constructive proof for the nonparametric identification of the model primitives from … matched employer-employee data. We use the estimated model to decompose the sources of wage dispersion into worker …
Persistent link: https://www.econbiz.de/10014635650
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Eliciting Willingness-to-Pay to Decompose Beliefs and Preferences that Determine Selection into Competition in Lab Experiments
Chen, Yvonne Jie; Dutz, Deniz; Li, Li; Moon, Sarah; … - National Bureau of Economic Research - 2023
This paper develops a partial-identification methodology for analyzing self-selection into alternative compensation schemes in a laboratory environment. We formulate a model of self-selection in which individuals select the compensation scheme with the largest expected valuation, which depends...
Persistent link: https://www.econbiz.de/10014447251