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The efficacy of tournaments for non-routine team tasks
Englmaier, Florian; Grimm, Stefan; Grothe, Dominik; … - 2021
also render teams’ identity and social-image concerns salient. We study the effects of tournaments on team performance in a …,700 participants), we vary the salience of team identity, social-image concerns, and whether teams face monetary incentives. Increased … salience of team identity does not improve performance. Social-image motivates mainly the top-performing teams. Additional …
Persistent link: https://www.econbiz.de/10012597694
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Bread and bullets
Akerlof, George A.; Snower, Dennis J. - 2016
Standard economics omits the role of narratives (the stories that people tell themselves and others) when they make all kinds of decisions. Narratives play a role in understanding the environment; focusing attention; predicting events; motivating action; assigning social roles and identities;...
Persistent link: https://www.econbiz.de/10011422534
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Peer effects and social preferences in voluntary cooperation
Christian, Thöni; Gaechter, Simon - 2014
Social preferences and social influence effects ("peer effects") are well documented, but little is known about how peers shape social preferences. Settings where social preferences matter are often situations where peer effects are likely too. In a gift-exchange experiment with independent...
Persistent link: https://www.econbiz.de/10010340306
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Behavioral political economy : a survey
Schnellenbach, Jan; Schubert, Christian - 2014
Explaining individual behavior in politics should rely on the same motivational assumptions as explaining behavior in the market: That’s what Political Economy, understood as the application of economics to the study of political processes, is all about. In its standard variant, those who...
Persistent link: https://www.econbiz.de/10010412852
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The importance of peers for compliance with norms of fair sharing
Gächter, Simon; Gerhards, Leonie; Nosenzo, Daniele - 2017
A burgeoning literature in economics has started examining the role of social norms in explaining economic behavior. Surprisingly, the vast majority of this literature has studied social norms in asocial decision settings, where individuals are observed to act in isolation from each other. In...
Persistent link: https://www.econbiz.de/10011659355
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Deviant or wrong? : the effects of norm information on the efficacy of punishment
Bicchieri, Cristina; Dimant, Eugen; Xiao, Erte - 2021
Research examining the effect of weak punishment on conformity indicates that punishment can backfire and lead to suboptimal social outcomes. We examine whether this effect is due to a lack of perceived legitimacy of rule enforcement, which would enable agents to justify selfish behavior. We...
Persistent link: https://www.econbiz.de/10012510229
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Do managers with limited liability take more risky decisions? : an information acquisition model
Malcomson, James M. - 2010
Risk-neutral individuals take more risky decisions when they have limited liability. Risk-neutral managers may not when acting as agents under contract and taking costly actions to acquire information before taking decisions. Limited liability makes it optimal to increase the reward for outcomes...
Persistent link: https://www.econbiz.de/10003937594
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Incentives to motivate
Kvaløy, Ola; Schöttner, Anja - 2014
We present a model in which a motivator can take costly actions - or what we call motivational effort - in order to reduce the effort costs of a worker, and analyze the optimal combination of motivational effort and monetary incentives. We distinguish two cases. First, the firm owner chooses the...
Persistent link: https://www.econbiz.de/10010250173
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Do firms gain from managerial overconfidence? : the role of severance pay
Graziano, Clara; Luporini, Annalisa - 2022
We analyze the effects of optimism and overconfidence when the manager's compensation package includes severance pay and the CEO has bargaining power. We find that optimism does not affect incentive pay but increases severance pay with a negative effect on profit. Overconfidence, on the...
Persistent link: https://www.econbiz.de/10013255972
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Trust and contracts : empirical evidence
D'Acunto, Francesco; Xie, Jin; Yao, Jiaquan - 2020
Trust between parties should drive the negotiation and design of contract: if parties did not trust each others' reaction to unplanned events, they might agree to pay higher costs of negotiation to complete contracts. Using a unique sample of U.S. principal-agent consulting contracts and a...
Persistent link: https://www.econbiz.de/10012318377