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Emotions and the Optimality of Unfair Tournaments

Kräkel, Matthias - Volkswirtschaftliche Fakultät, … - 2005

-order tournaments which are frequently used in practice. Tournaments seem to be an appropriate starting point for this concept because … from emotional workers. In this case, he clearly prefers unfair to fair tournaments. Furthermore, the concept of emotions … is used to explain the puzzling findings on the oversupply of effort in experimental tournaments. …

Persistent link: https://www.econbiz.de/10005785821

Tournaments versus Piece Rates under Limited Liability

Kräkel, Matthias - Volkswirtschaftliche Fakultät, … - 2004

tournaments and piece rates as alternative incentive schemes has focused on the case of unlimited liability. However, in practice … under piece rates than under tournaments. Moreover, if first-best implementation is not achieved and workers earn positive … rents, efforts and profits will be larger for piece rates than for tournaments given sufficiently convex costs. While …

Persistent link: https://www.econbiz.de/10005785900

Incentive Effects in Asymmetric Tournaments Empirical Evidence from the German Hockey League

Nieken, Petra; Stegh, Michael - Volkswirtschaftliche Fakultät, … - 2010

Following tournament theory, incentives will be rather low if the contestants of a tournament are heterogeneous. We empirically test this prediction using a large dataset from the German Hockey League. Our results show that indeed the intensity of a game is lower if the teams are more...

Persistent link: https://www.econbiz.de/10008633333

Commitment in R&D Tournaments via Strategic Delegation to Overoptimistic Managers

Englmaier, Florian - Volkswirtschaftliche Fakultät, … - 2010

race nature of R&D tournaments. …

Persistent link: https://www.econbiz.de/10008581229

Relative Performance Pay, Bonuses, and Job-Promotion Tournaments

Kräkel, Matthias; Schöttner, Anja - Volkswirtschaftliche Fakultät, … - 2008

recruitment is observable on nearly any hierarchy level. We explain these empirical puzzles by combining job-promotion tournaments …

Persistent link: https://www.econbiz.de/10005785824

Use and Abuse of Authority

Bartling, Björn; Fehr, Ernst; Schmidt, Klaus M. - Volkswirtschaftliche Fakultät, … - 2012

Employment contracts give a principal the authority to decide flexibly which task his agent should execute. However, there is a tradeoff, first pointed out by Simon (1951), between flexibility and employer moral hazard. An employment contract allows the principal to adjust the task quickly to...

Persistent link: https://www.econbiz.de/10011140971

Discretion, Productivity and Work Satisfaction

Bartling, Björn; Fehr, Ernst; Schmidt, Klaus M. - Volkswirtschaftliche Fakultät, … - 2012

In Bartling, Fehr and Schmidt (2012) we show theoretically and experimentally that it is optimal to grant discretion to workers if (i) discretion increases productivity, (ii) workers can be screened by past performance, (iii) some workers reciprocate high wages with high effort and (iv)...

Persistent link: https://www.econbiz.de/10011140988

Relative Performance Pay in the Shadow of Crisis

Kräkel, Matthias; Nieken, Petra - Volkswirtschaftliche Fakultät, … - 2013

We analyze whether incentives from relative performance pay are reduced or enhanced if a department is possibly terminated due to a crisis. Our benchmark model shows that incentives decrease in a severe crisis, but are boosted given a minor crisis since efforts are strategic complements in the...

Persistent link: https://www.econbiz.de/10011140994

Should You Allow Your Agent to Become Your Competitor? On Non-Compete Agreements in Employment Contracts

Kräkel, Matthias; Sliwka, Dirk - Volkswirtschaftliche Fakultät, … - 2006

We discuss a principal-agent model in which the principal has the opportunity to include a non-compete agreement in the employment contract. We show that not imposing such an agreement can be beneficial for the principal as the possibility to leave the firm generates implicit incentives for the...

Persistent link: https://www.econbiz.de/10005785815

Doping in Contest-Like Situations

Kräkel, Matthias - Volkswirtschaftliche Fakultät, … - 2005

Individuals who compete in a contest-like situation (for example, in sports, in promotion tournaments, or in an …

Persistent link: https://www.econbiz.de/10005785818