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Optimal incentive contracts for a worker who envies his boss

Dur, Robert; Glazer, Amihai - 2004

A worker's utility may increase in his own income, but envy can make his utility decline with his employer's income … various assumptions about the object and generality of envy. Envy amplifies the effect of incentives on effort and, therefore …, increases optimal incentive pay. Moreover, envy can make profitsharing optimal, even when the worker's effort is fully …

Persistent link: https://www.econbiz.de/10010261264

Sustainable social spending in a greying economy with stagnant public services: Baumol's cost disease revisited

van der Ploeg, Frederick - 2006

Baumol's cost disease states that relatively high productivity growth in manufacturing induces a steady increase in the relative price of human services. If demand for these services is inelastic or manufactured goods are necessities, the budget share of these services inexorably rises over time...

Persistent link: https://www.econbiz.de/10010276200

Incentives and workers' motivation in the public sector

Delfgaauw, Josse; Dur, Robert - 2004

Civil servants have a bad reputation of being lazy. However, citizens' personal experiences with civil servants appear to be significantly better. We develop a model of an economy in which workers differ in laziness and in public service motivation, and characterise optimal incentive contracts...

Persistent link: https://www.econbiz.de/10010261219

The desire for impact

Dur, Robert A. J.; Glazer, Amihai - 2005

This paper explores the meaning and implications of the desire by workers for impact. We find that this impact motive can make firms in a competitive labor market act as monopsonists, lead workers with the same characteristics but at different firms to earn different wages, may alleviate the...

Persistent link: https://www.econbiz.de/10010261327

Construction contracts (or How to get the right building at the right price?)

Chakravarty, Surajeet; MacLeod, W. Bentley - 2006

Most contracts that individuals enter into are not written from scratch; rather, they depend upon forms and terms that have been successful in the past. In this paper, we study the structure of form construction contracts published by the American Institute of Architects (AIA). We show that...

Persistent link: https://www.econbiz.de/10010263907

How reasonable is the reasonable royalty rate?: Damage rules and probabilistic intellectual property rights

Choi, Jay Pil - 2006

This paper investigates how different damage rules in patent infringement cases shape competition when intellectual property rights are probabilistic. I develop a simple model of oligopolistic competition to compare two main liability doctrines that have been used in the US to assess...

Persistent link: https://www.econbiz.de/10010263961

The intergenerational transmission of risk and trust attitudes

Dohmen, Thomas; Falk, Armin; Huffman, David - 2008

Recent theoretical contributions depart from the usual practice of treating individual attitude endowments as a black box, by assuming that these are shaped by the attitudes of parents and other role models. Attitudes include fundamental preferences such as risk preference, and crucial beliefs...

Persistent link: https://www.econbiz.de/10010264365

No-trade in the laboratory

Angrisani, Marco; Guarino, Antonio; Huck, Steffen; … - 2008

We test the no-trade theorem in a laboratory financial market where subjects can trade an asset whose value is unknown. Subjects receive clues on the asset value and then set a bid and an ask at which they are willing to buy or to sell from the other participants. In treatments with no gains...

Persistent link: https://www.econbiz.de/10010264465

Exploring higher-order risk effects

Deck, Cary; Schlesinger, Harris - 2008

Higher-order risk effects play an important role in examining economic behavior under uncertainty. A precautionary demand for saving has been linked to the property of prudence and the property of temperance has been used to show how the presence of an unavoidable risk affects one's behavior...

Persistent link: https://www.econbiz.de/10010264510

It's the media, stupid: how media activity shapes public spending

Bruns, Christian; Himmler, Oliver - 2008

Politicians seeking reelection need voters to know what they have done for them. Thus, incentives may arise to spend more money where media coverage is higher. We present a simple model to explain the allocation of public spending across jurisdictions contingent on media activity. An incumbent...

Persistent link: https://www.econbiz.de/10010264514

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