degree of confidence (a measure of spread) and the incidence of over (and under) estimation. I find that the future component … evidence of some over-estimation. The degree of confidence is high and implies that agents have a substantial amount of inside …

This paper studies how altruism between managers and employees affects relational incentive contracts. To this end we …

brightest managers to the public sector abound. This paper studies self-selection into managerial positions in the public and … ability is always higher in the private sector. As a result, relatively many of the more able managers self-select into the …

convinced that their manager cares for them. Managers can signal their altruistic feelings towards their employees in two ways … altruistic managers may offer lower wages and nevertheless build up better social-exchange relationships with their employees … than egoistic managers do. In such equilibria, a low wage signals to employees that the manager has something else to offer …