Dey, Oindrila; Banerjee, Swapnendu - Volkswirtschaftliche Fakultät, … - 2014
status. With the help of a moral hazard framework with limited liability we show that for agents with lower outside option … increased status leads to lower incentive pay whereas exactly the opposite happens for agents with higher outside option. For … agents with very high status such that the limited liability doesn’t bind, an exogenous increase in status level leads to an …