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Variable payment schemes and productivity : do individual-based schemes really have a stronger influence than collective ones?

Jirjahn, Uwe; Mohrenweiser, Jens - 2023

While studies on individual-based and collective payment schemes are largely unconnected, there appears to be a widely held belief that individual-based schemes have a stronger influence on firm performance than collective ones. This also applies to an index of best management practices...

Persistent link: https://www.econbiz.de/10014310847

Persistent overconfidence and biased memory : evidence from managers

Huffman, David; Raymond, Collin; Shvets, Julia - 2023

A long-standing puzzle is how overconfidence can persist in settings characterized by repeated feedback. This paper studies managers who participate repeatedly in a high-powered tournament incentive system, learning relative performance each time. Using reduced form and structural methods we...

Persistent link: https://www.econbiz.de/10014311540

Incentive complexity, bounded rationality and effort provision

Abeler, Johannes; Huffman, David; Raymond, Collin - 2023

Using field and laboratory experiments, we demonstrate that the complexity of incentive schemes and worker bounded rationality can affect effort provision, by shrouding attributes of the incentives. In our setting, complexity leads workers to over-provide effort relative to a fully rational...

Persistent link: https://www.econbiz.de/10014311541

Gambling habits and probability judgements in a Bayesian task environment

Dickinson, David L.; Reid, Parker - 2023

-gamblers). Our data failed to support our main hypotheses that experienced online gamblers would be more accurate Bayesian decision … comparisons between these types of participants also failed to show any difference in decision weights placed on the two …-reported gambling frequency was stronger for females. Decision modeling found a decreased weight placed on new evidence (over base rate …

Persistent link: https://www.econbiz.de/10014311967

Back to Edgeworth? : estimating the value of time using hedonic experiences

Krekel, Christian; MacKerron, George - 2023

Following early economist Francis Y. Edgeworth's proposal to measure people's hedonic experiences as they go about their daily lives, we use a smartphone app that over eight years randomly asked a panel of 30, 936 UK residents (N = 2, 235, 733) about their momentary feelings and activities to...

Persistent link: https://www.econbiz.de/10014311979

Sticky wages on the layoff margin

Davis, Steven J.; Krolikowski, Pawel - 2023

We design and field an innovative survey of unemployment insurance (UI) recipients that yields new insights about wage stickiness on the layoff margin. Most UI recipients express a willingness to accept wage cuts of 5-10 percent to save their jobs, and one third would accept a 25 percent cut....

Persistent link: https://www.econbiz.de/10014325070

Towards a general theory of peer effects

Boucher, Vincent; Rendall, Michelle; Ushchev, Philip; … - 2023

There is substantial empirical evidence showing that peer effects matter in many activities. The workhorse model in empirical work on peer effects is the linear-in-means (LIM) model, whereby it is assumed that agents are linearly affected by the mean action of their peers. We develop a new...

Persistent link: https://www.econbiz.de/10014325138

A aultisector perspective on wage stagnation

Ngai, Liwa Rachel; Sevinc, Orhun - 2023

Low-skilled workers are concentrated in sectors that experience fast productivity growth and yet their real wages have been stagnating. We document evidence from the U.S. to show the importance of sectoral reallocations. Key to our two-sector model is the fall in the relative price of the...

Persistent link: https://www.econbiz.de/10014325715

Eggs when young, chicken when old : time consistency and addiction over the life cycle

Piccoli, Luca; Tiezzi, Silvia - 2023

This paper tests whether young and adult smokers have different time preferences, in particular with respect to time consistency. The recent introduction of Tobacco 21 law in the US were in part motivated by allegedly inconsistent time preferences of the young consumers. This research...

Persistent link: https://www.econbiz.de/10014326453

Macroeconomic effects of UI extensions at short and long durations

Acosta, Miguel; Müller, Andreas; Nakamura, Emi; Jón … - 2023

We study the macroeconomic effects of unemployment insurance (UI) benefit extensions in the United States at short and long durations. To do this, we develop a new state level dataset on trigger variables for UI extensions and a "UI benefit calculator" based on detailed legislative and...

Persistent link: https://www.econbiz.de/10014335034