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Present-biased envy, inequality, and growth

Borissov, Kirill; Pakhnin, Mikhail; Wendner, Ronald - 2024

We take into account that envy (relative consumption concerns) is more pronounced in the present than in the future. We … exogenous parameters. Agents' preferences exhibit present-biased envy: agents are naive and care about how their consumption … levels compare to that of others in the current period. Our results suggest that present-biased envy affects both the level …

Persistent link: https://www.econbiz.de/10014528209

Altruism and envy in contests : an evolutionarily stable symbiosis

Konrad, Kai A. - 2002

Altruists and envious people who meet in contests are symbionts. They do better than a population of narrowly rational individuals. If there are only altruists and envious individuals, a particular mixture of altruists and envious individuals is evolutionarily stable.

Persistent link: https://www.econbiz.de/10011514081

Optimal incentive contracts for a worker who envies his boss : presented at CESifo Venice Summer Institute, Workshop on Dissecting Globalization, July 2004

Dur, Robert A. J.; 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/10011450877

On-the-job wage dynamics

Smith, Eric - 2023

This paper assesses wage setting and wage dynamics in a search and matching framework where (i) workers and firms on occasion meet multilaterally; (ii) workers can recall previous encounters with firms; and (iii) firms cannot commit to future wages and workers cannot commit to not searching on...

Persistent link: https://www.econbiz.de/10014434270

Labor market sorting in Germany : presented at CESifo Area Conference on Employment and Social Protection, April 2016

Lochner, Benjamin; Schulz, Bastian - 2016

This paper analyzes the allocation of workers to jobs and the wage distribution in Germany. Our main contribution is to reconcile prominent empirical models of wage dispersion (Abowd et al., 1999; Card et al., 2013) with theoretical sorting models (Shimer and Smith, 2000; Eeckhout and Kircher, 2011;...

Persistent link: https://www.econbiz.de/10011524613

The effects of the real oil price on regional wage dispersion

Kehrig, Matthias; Ziebarth, Nicolas L. - 2017

We find that oil supply shocks decrease average real wages, particularly skilled wages, and increase wage dispersion across regions, particularly unskilled wage dispersion. In a model with spatial energy intensity differences and nontradables, labor demand shifts, while explaining the response...

Persistent link: https://www.econbiz.de/10011624317

Returns to On-the-Job Search and the dispersion of wages

Gottfries, Axel; Teulings, Coen N. - 2017

A wide class of models with On-the-Job Search (OJS) predicts that workers gradually select into better-paying jobs. We develop a simple methodology to test predictions implied by OJS using two sources of identification: (i) time-variation in job-finding rates and (ii) the time since the last...

Persistent link: https://www.econbiz.de/10011637591

Sufficient statistics for frictional wage dispersion and growth

Vejlin, Rune Majlund; Veramendi, Gregory - 2020

This paper develops a sufficient statistics approach for estimating the role of search frictions in wage dispersion and lifecycle wage growth. We show how the wage dynamics of displaced workers are directly informative of both for a large class of search models. Specifically, the correlation...

Persistent link: https://www.econbiz.de/10012319318

Meta-analysis of inequality aversion estimates

Nunnari, Salvatore; Pozzi, Maximilian Joseph - 2022

aversion reported from 1999 to 2022. In particular, we examine 85 estimates of disadvantageous inequality aversion (or envy … presence of inequality concerns: the mean envy coefficient is 0:426 with a 95% probability that the true value lies in the …

Persistent link: https://www.econbiz.de/10013285841

Setting incentives : temporary performance premiums versus promotion tournaments

Meier, Volker - 2001

Two alternative relative compensation schemes are compared with respect to total output that can be generated at a given sum of salaries. While the promotion regime guarantees that any salary increase is permanent, the premium system allows a reduction in the income of an agent to the base...

Persistent link: https://www.econbiz.de/10011398044