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Job assignments, intrinsic motivation and explicit incentives
Nafziger, Julia (contributor) - 2008
This paper considers the interplay of job assignments with the intrinsic and extrinsic motivation of an agent. Job assignments influence the self confidence of the agent, and thereby his intrinsic motivation. Monetary reward allow the principal to complement intrinsic motivation with extrinsic...
Persistent link: https://www.econbiz.de/10003782278
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Merger performance and managerial incentives
Kräkel, Matthias; Müller, Daniel - 2014
information about suitable merger targets and to manage the merged corporation in case of an acquisition. Our results show that …
Persistent link: https://www.econbiz.de/10011430291
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Double-sided moral hazard, efficiency wages and litigation
Gürtler, Oliver (contributor);  … - 2007
We consider a double-sided moral hazard problem where each party can renege on the signed contract since there does not exist any verifi- able performance signal. It is shown that ex-post litigation can restore incentives of the agent. Moreover, when the litigation can be settled by the parties...
Persistent link: https://www.econbiz.de/10003576494
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Wage floors and optimal job design
Kragl, Jenny; Schöttner, Anja - 2011
We analyze the effects of lower bounds on wages, e.g., minimum wages or liability limits, on job design within firms. In our model, two tasks contribute to non-veriable firm value and affect an imperfect performance measure. The tasks can be assigned to either one or two agents. In the absence...
Persistent link: https://www.econbiz.de/10009125582
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Limited liability and the risk-incentive relationship
Budde, Jörg (contributor); Kräkel, Matthias (contributor) - 2008
Several empirical findings have challenged the traditional view on the trade-off between risk and incentives. By combining risk aversion and limited liability in a standard principal-agent model the empirical puzzle ont hepositive relationship between risk and incentives can be explained....
Persistent link: https://www.econbiz.de/10003782288
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Unawareness, beliefs and games
Heifetz, Aviad (contributor); Meier, Martin (contributor);  … - 2007
We define a generalized state-space model with interactive unawareness and probabilistic beliefs. Such models are desirable for many potential applications of asymmetric unawareness. We develop Bayesian games with unawareness, define equilibrium, and prove existence. We show how equilibria are...
Persistent link: https://www.econbiz.de/10003471804
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Does information matter? : some experimental evidence from a common-pool resource game
Apesteguia, Jose - 2001
This paper analyzes the effect of the availability of information about the payoff structure on the behavior of players … in a Common-Pool Resource game. Six groups of six individuals played a complete information game, while other six groups … played the same game but with no information about the payoff function. It will be shown that the patterns of investment …
Persistent link: https://www.econbiz.de/10011538855
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The two-person Harvard game : an experimental analysis
Apesteguia, Jose - 2001
Two subjects have to repeatedly choose between two alternatives, A and B, where payoffs of an A or B-choice depend on the choices made by both players in a number of previous choices. Locally, alternative A gives always more payoff than alternative B. However, in terms of overall payoffs...
Persistent link: https://www.econbiz.de/10011539831
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Interactive unawareness and speculative trade
Heifetz, Aviad (contributor); Meier, Martin (contributor);  … - 2003 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001970326
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Learning About CEO Ability and Stock Return Volatility
Pan, Yihui - 2013
When there is uncertainty about a CEO's quality, news about the firm causes rational investors to update their expectation of the firm's profitability for two reasons: Updates occur because of the direct effect of the news, and also because the news can cause an updated assessment of the CEO's...
Persistent link: https://www.econbiz.de/10013085131