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Prendergast, Canice - 2010

Performance evaluations for workers are typically subjective impressions held by supervisors rather than easily quantifiable measures of output. We argue that perhaps the most important aspect this is that it gives supervisors the opportunity to exercise their personal preference towards their...

Persistent link: https://www.econbiz.de/10013139327

The Measurement of Student Ability in Modern Assessment Systems

Jacob, Brian Aaron - 2016

Economists often use test scores to measure a student's performance or an adult's human capital. These scores reflect non-trivial decisions about how to measure and scale student achievement, with important implications for secondary analyses. For example, the scores computed in several major...

Persistent link: https://www.econbiz.de/10012986298

Commitment vs. Flexibility with Costly Verification

Halac, Marina - 2016

We introduce costly verification into a general delegation framework. A principal faces an agent who is better informed about the efficient action but biased towards higher actions. An audit verifies the agent's information, but is costly. The principal chooses a permissible action set as a...

Persistent link: https://www.econbiz.de/10012977283

A Sharper Ratio : A General Measure for Correctly Ranking Non-Normal Investment Risks

Smetters, Kent A. - 2013

While the Sharpe ratio is still the dominant measure for ranking risky assets, a substantial effort has been made over the past three decades to find a way to account for non-Normally distributed risks. This paper derives a generalized ranking measure which, under a regularity condition,...

Persistent link: https://www.econbiz.de/10013074912

Representing Symmetric Rank Two Updates

Gay, David M. - 2022

Various quasi-Newton methods periodically add a symmetric "correction" matrix of rank at most 2 to a matrix approximating some quantity A of interest (such as the Hessian of an objective function). In this paper we examine several ways to express a symmetric rank 2 matrix [delta] as the sum of...

Persistent link: https://www.econbiz.de/10013322335

Revisiting Some Productivity Debates

Van Biesebroeck, Johannes - 2021

Researchers interested in estimating productivity can choose from an array of methodologies, each with its strengths and weaknesses. Methods differ by the assumptions they rely on and imply very different calculations. I compare five widely used techniques: (a) index numbers, (b) data...

Persistent link: https://www.econbiz.de/10013220963

Opportunity Counts : Teams and the Effectiveness of Production Incentives

Boning, Brent; Ichniowski, Casey; Shaw, Kathryn - 2021

This paper investigates the individual and joint effects of group incentive pay and problem-solving teams on productivity. To estimate models of adoption of these work practices and models of the effects of the work practices on productivity, we constructed a data set on the operations of 34...

Persistent link: https://www.econbiz.de/10013240520

Mobilizing Social Capital Through Employee Spinoffs

Muendler, Marc-Andreas - 2014

Many founding teams of new firms form at a common employer. We model team formation and the entry of employee spinoffs … by extending the Jovanovic (1979) theory of job matching and employer learning. In our social-capital model employees … spinoff firm. For spinoff firms, our model predicts that the separation hazard is lower among founding team members than among …

Persistent link: https://www.econbiz.de/10013065267

On the Role of Group Size in Tournaments : Theory and Evidence from Lab and Field Experiments

List, John A. - 2014

. We begin with a theoretical exploration of optimal contest design, focusing on the number of competitors. Our theory … test of the theory implements a laboratory experiment, where important features of the theory can be exogenously imposed … models to inform us of the relevant theoretical predictions. In both cases we find that the theory has a fair amount of …

Persistent link: https://www.econbiz.de/10013056205

Exploring Tradeoffs in the Organization of Scientific Work : Collaboration and Scientific Reward

Bikard, Michaël - 2014

When do scientists and other knowledge workers organize into collaborative teams and why do they do so for some projects and not others? At the core of this important organizational choice is, we argue, a tradeoff between the productive efficiency of collaboration and the credit allocation that...

Persistent link: https://www.econbiz.de/10013064160