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Image Versus Information : Changing Societal Norms and Optimal Privacy
Ali, S. Nageeb - 2016
We analyze the costs and benefits of using social image to foster virtuous behavior. A Principal seeks to motivate reputation-conscious agents to supply a public good. Each agent chooses how much to contribute based on his own mix of public-spiritedness, private signal about the value of the...
Persistent link: https://www.econbiz.de/10012993235
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Misperceptions, Moral Hazard, and Incentives in Groups
Gaynor, Martin - 2021
Recent work has shown that, in the presence of moral hazard, balanced budget Nash equilibria in groups are not pareto-optimal. This work shows that when agents misperceive the effects of their actions on the joint outcome, there exist a set of sharing rules which balance the budget and lead to a...
Persistent link: https://www.econbiz.de/10013248428
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Opportunity Counts : Teams and the Effectiveness of Production Incentives
Boning, Brent; Ichniowski, Casey; Shaw, Kathryn L. - 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
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Search and Work in Optimal Welfare Programs
Pavoni, Nicola - 2013
Some existing welfare programs ("work-first") require participants to work in exchange for benefits. Others ("job search-first") emphasize private job-search and provide assistance in finding and retaining a durable employment. This paper studies the optimal design of welfare programs when (i)...
Persistent link: https://www.econbiz.de/10013089023
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Testing the Theory of Multitasking : Evidence from a Natural Field Experiment in Chinese Factories
Hong, Fuhai - 2013
tasks that produce unobservable outputs as they seek the salient rewards to observable outputs. Since the theory related to …
Persistent link: https://www.econbiz.de/10013072582
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Compensation Matters : Incentives for Multitasking in a Law Firm
Bartel, Ann P. - 2013
on the task allocation of the firm's team leaders is large and robust; team leaders increase their non-billable hours and … shift billable hours to team members. Although the motivation for the change in the compensation plan was the multitasking … problem, this change also impacted the way tasks were allocated within each team, resulting in greater teamwork …
Persistent link: https://www.econbiz.de/10013076564
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Managerial Value Diversion and Shareholder Wealth
Bebchuk, Lucian A. - 2008
The agents to whom shareholders delegate the management of corporate affairs may transfer value from shareholders to themselves through a variety of mechanisms, such as self-dealing, insider trading, and taking of corporate opportunities. A common view in the law and economics literature is that...
Persistent link: https://www.econbiz.de/10012774878
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Executive Compensation and the Optimality of Managerial Entrenchment
Gorton, Gary B. - 2008
Firms are more complicated than standard principal-agent theory allows: firms have assets-in-place; firms endure …
Persistent link: https://www.econbiz.de/10012774972
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Credit Default Swaps, Agency Problems, and Management Incentives
Lee, Jongsub - 2017
We show in a theoretical model that credit default swaps induce managerial agency problems through two channels: reducing the opportunity for managers to transfer value to equityholders from creditors via strategic default, and reducing the intensity of monitoring by creditors, which leads to...
Persistent link: https://www.econbiz.de/10012941985
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Subjective Performance Measures in Optimal Incentive Contracts
Baker, George P. - 2010
Objective measures of performance are seldom perfect. In response, incentive contracts often include important subjective components that mitigate incentive distortions caused by imperfect objective measures. This paper explores the combined use of subjective and objective performance measures...
Persistent link: https://www.econbiz.de/10012763277