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Fairness, adverse selection, and employment contracts

Siemens, Ferdinand von - 2005

extent of their fairness concerns. Fairness is modelled as inequity aversion, where fair-minded workers suffer if their … colleagues get more income net of production costs. Screening workers with equal productivity but different fairness concerns is … the fraction of fair-minded workers. As a result, fairness might influence the employment contracts of all workers …

Persistent link: https://www.econbiz.de/10010366541

Courtesy and idleness : gender differences in team work and team competition

Ivanova-Stenzel, Radosveta; Kübler, Dorothea - 2005

Does gender play a role in the context of team work? Our results based on a real-effort experiment suggest that performance depends on the composition of the team. We find that female and male performance differ most in mixed teams with revenue sharing between the team members, as men put in...

Persistent link: https://www.econbiz.de/10010365905

Adding a stick to the carrot? : the interaction of bonuses and fines

Fehr, Ernst; Schmidt, Klaus M. - 2007

In this paper we report on a principal-agent experiment where the principal can choose whether to rely on an unenforcable bonus contract or to combine the bonus contract with a fine if the agent's effort falls below a minimum standard. We show that most principals do not use the fine and that...

Persistent link: https://www.econbiz.de/10010365854

Peer effects of ambition

Albert, Philipp; Kübler, Dorothea; Silva-Goncalves, Juliana - 2019

Ambition as the desire for personal achievement is an important driver of behavior. Using laboratory experiments, we study the role of social influence on ambition in two distinct domains of achievement, namely performance goals and task complexity. In the first case, participants set themselves...

Persistent link: https://www.econbiz.de/10012033501

Security bid auctions for agency contracts

Chŏn, Pyŏng-hŏn; Wolfstetter, Elmar - 2012

A principal uses security bid auctions to award an incentive contract to one among several agents, in the presence of hidden action and hidden information. Securities range from cash to equity and call options. 'Steeper' securities are better surplus extractors that narrow the gap between the...

Persistent link: https://www.econbiz.de/10009571056

Reciprocity in dynamic employment relationships

Fahn, Matthias - 2019

This paper explores the optimal provision of dynamic incentives for employees with reciprocal preferences. Building on the presumption that a relational contract can establish a norm of reciprocity, I show that generous upfront wages that activate an employee’s reciprocal preferences are more...

Persistent link: https://www.econbiz.de/10012126237

Ambiguity and social interaction

Eichberger, Jürgen; Kelsey, David; Schipper, Burkhard - 2005

We present a non-technical account of ambiguity in strategic games and show how it may be applied to economics and social sciences. Optimistic and pessimistic responses to ambiguity are formally modelled. We show that pessimism has the effect of increasing (decreasing) equilibrium prices under...

Persistent link: https://www.econbiz.de/10010371082

The impact of social media on belief formation

Schwarz, Marco - 2017

Social media are becoming increasingly important in our society and change the way people communicate, how they acquire information, and how they form beliefs. Experts are concerned that the rise of social media may make interaction and information exchange among like-minded individuals more...

Persistent link: https://www.econbiz.de/10011762816

Does a short-term increase in incentives boost performance?

Angelova, Vera; Giebe, Thomas; Ivanova-Stenzel, Radosveta - 2017

If agents are exposed to continual competitive pressure, how does a short-term variation of the severity of the competition affect agents' performance? In a real-effort laboratory experiment, we study a one-time increase in incentives in a sequence of equally incentivized contests. Our results...

Persistent link: https://www.econbiz.de/10011895040

Monetary incentives and the contagion of unethical behavior

Le Maux, Benoît; Masclet, David; Necker, Sarah - 2021

We analyze both theoretically and empirically how monetary incentives and information about others’ behavior affect dishonesty. We run a laboratory experiment with 560 participants, each of whom observes a number from one to six with there being a payoff associated with each number. They can...

Persistent link: https://www.econbiz.de/10012438251

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