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Chapter written for the Handbook of Reciprocity, Gift-Giving and Altruism
Persistent link: https://www.econbiz.de/10005785902
We show experimentally that fairness concerns may have a decisive impact on the actual and optimal choice of contracts in a moral hazard context. Bonus contracts that offer a voluntary and unenforceable bonus for satisfactory performance provide powerful incentives and are superior to explicit...
Persistent link: https://www.econbiz.de/10005785926