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Barlevy, Gadi - 2011

We analyze an incentive pay scheme for educators that links educator compensation to the ranks of their students within appropriately defined comparison sets, and we show that under certain conditions this scheme induces teachers to allocate socially optimal levels of effort to all students....

Persistent link: https://www.econbiz.de/10013122652

The Economics of Identity and the Endogeneity of Race

Bodenhorn, Howard - 2010

Economic and social theorists have modeled race and ethnicity as a form of personal identity produced in recognition of the costliness of adopting and maintaining a specific identity. These models of racial and ethnic identity recognize that race and ethnicity is potentially endogenous because...

Persistent link: https://www.econbiz.de/10012762773

Intra Firm Bargaining and Shapley Values

Bruegemann, Bjoern - 2015

The paper revisits the problem of wage bargaining between a firm and multiple workers. We show that the Subgame Perfect Equilibrium of the extensive-form game proposed by Stole and Zwiebel (1996a) does not imply a profile of wages and profits that coincides with the Shapley values as claimed in...

Persistent link: https://www.econbiz.de/10013016648

Do Tournaments Have Incentive Effects?

Ehrenberg, Ronald G.; Bognanno, Michael L. - 2021

Much attention has been devoted to studying models of tournaments or situations in which an individual's payment depends only on his output or rank, relative to other competitors. Such models are of more than academic Interest as they may well describe the compensation structures applicable to...

Persistent link: https://www.econbiz.de/10013239367

Confidence Management in Tournaments

Deng, Shanglyu; Fang, Hanming; Fu, Qiang; Wu, Zenan - 2022

An incumbent employee competes against a new hire for bonus or promotion. The incumbent’s ability is commonly known, while that of the new hire is private information. The incumbent is subject to a perceptional bias: His prior about the new hire’s type differs from the true underlying...

Persistent link: https://www.econbiz.de/10013292916

Crowdsourcing City Government : Using Tournaments to Improve Inspection Accuracy

Glaeser, Edward L. - 2016

Can open tournaments improve the quality of city services? The proliferation of big data makes it possible to use predictive analytics to better target services like hygiene inspections, but city governments rarely have the in-house talent needed for developing prediction algorithms. Cities...

Persistent link: https://www.econbiz.de/10012995969

Coordination, Fair Treatment and Inflation Persistence

Driscoll, John C.; Holden, Steinar - 2021

Most wage-contracting models with rational expectations fail to replicate the persistence in inflation observed in the data. We argue that coordination problems and multiple equilibria are the keys to explaining inflation persistence. We develop a wage-contracting model in which workers are...

Persistent link: https://www.econbiz.de/10013218081

Inequalities in Income and Inequalities in Health

Deaton, Angus - 2021

What is inequality in health? Are economists' standard tools for measuring income inequality relevant or useful for measuring it? Does income protect health and does income inequality endanger it? I discuss two different concepts of health inequality and relate each of them to the literature on...

Persistent link: https://www.econbiz.de/10013220524

Fairness Versus Welfare : Notes on the Pareto Principle, Preferences, and Distributive Justice

Kaplow, Louis; Shavell, Steven - 2021

In Fairness versus Welfare, we advance the thesis that social policies should be assessed based entirely on their effects on individuals' well-being. This thesis implies that no independent weight should be accorded to notions of fairness (other than many purely distributive notions). We support...

Persistent link: https://www.econbiz.de/10013232881

Pricing When Customers Care About Fairness But Misinfer Markups

Eyster, Erik - 2017

This paper proposes a theory of price rigidity consistent with survey evidence that firms stabilize prices out of … fairness to their consumers. The theory relies on two psychological assumptions. First, customers care about the fairness of … rigid. Embedded in a simple macroeconomic model, our pricing theory produces nonneutral monetary policy, a short …

Persistent link: https://www.econbiz.de/10012948083

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