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Becker meets Ricardo : multisector matching with social and cognitive skills
McCann, Robert J.; Shi, Xianwen; Siow, Aloysius; … - 2012
individuals have heterogeneous social and cognitive skills. In the model, there are gains to specialization and team production …, but specialization requires communication and coordination between team members, and individuals with more social skills …
Persistent link: https://www.econbiz.de/10009537710
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Understanding severance pay
Parsons, Donald O. - 2013
Severance pay, a fixed-sum payment to workers at job separation, has been the focus of intense policy concern for the last several decades, but much of this concern is unearned. The design of the ideal separation package is outlined and severance pay emerges as a natural component of job...
Persistent link: https://www.econbiz.de/10010195446
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Optimal incentive contracts under inequity aversion
Englmaier, Florian (contributor); Wambach, Achim (contributor) - 2005
simple rationale for team based incentives in many environments. Fourth, the Sufficient Statistics Result is violated …
Persistent link: https://www.econbiz.de/10003011503
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Hidden insurance in a moral hazard economy
Bertola, Giuseppe; Koeniger, Winfried - 2013
We consider an economy where individuals privately choose effort and trade competitively priced securities that pay off with effort-determined probability. We show that if insurance against a negative shock is sufficiently incomplete, then standard functional form restrictions ensure that...
Persistent link: https://www.econbiz.de/10010225898
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Cooperative household models
Apps, Patricia (contributor); Rees, Ray (contributor) - 2007
We set out a general framework for cooperative household models, based on Samuelson's idea of a household welfare function, but extending it to incorporate the key insight from Nash bargaining models - the idea that the household's preference ordering over the utility profiles of its members...
Persistent link: https://www.econbiz.de/10003578889
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Relational contracts and the economic well-being of nations
Kukharskyy, Bohdan; Pflüger, Michael - 2010
Informal long-term relationships and mutual confidence play a crucial role in modern economies in at least two dimensions. First, the performance of firms is strongly affected by their capacity to solve organizational questions effectively and this capacity is apparently strongly related to...
Persistent link: https://www.econbiz.de/10009314275
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Are teams less inequality averse than individuals?
He, Haoran; Villeval, Marie-Claire - 2014
designs, and we investigate how teams aggregate individual preferences. We find that team decisions reveal less inequality … aversion than individual initial proposals in team decision-making. However, teams are no more selfish than individuals who … decide in isolation. Individuals express strategically more inequality aversion in their initial proposals in team decision …
Persistent link: https://www.econbiz.de/10010359304
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The hold-down problem and the boundaries of the firm : lessons from a hidden action model with endogenous outside option
Schnedler, Wendelin; Sunde, Uwe - 2002
This paper offers a rationale for limiting the delegation of (real) authority, which neither relies on insurance arguments nor depends on ownership structure. We analyse a repeated hidden action model in which the actions of a risk neutral agent determine his future outside option. Consequently,...
Persistent link: https://www.econbiz.de/10011410683
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The effect of intragroup communication on preference shifts in groups
Brady, Michael P. (contributor); Wu, Steven Y. (contributor) - 2008
We use a laboratory gift-exchange game to examine decisions made by groups under three different procedures that dictate how group members interact and reach decisions in comparison to individuals acting alone. We find that group decisions do deviate from those of individuals, but the direction...
Persistent link: https://www.econbiz.de/10003688779
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Turning relative deprivation into a performance incentive device
Stark, Oded; Kosiorowski, Grzegorz - 2021
The inclination of individuals to improve their performance when it lags behind that of others with whom they naturally compare themselves can be harnessed to optimize the individuals' effort in work and study. In a given set of individuals, we characterize each individual by his relative...
Persistent link: https://www.econbiz.de/10012419100