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Kinks as Goals : Accelerating Commissions and the Performance of Sales Teams
Kuhn, Peter Joseph; Yu, Lizi - National Bureau of Economic Research - 2021
We study the performance of small retail sales teams facing an incentive scheme that includes both a lump sum bonus and multiple accelerators (kinks where the piece rate jumps upward). Consistent with standard labor supply models, we find that the presence of an attainable bonus or kink on a...
Persistent link: https://www.econbiz.de/10012482702
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Persuasion and empathy in salesperson-customer interactions
Rotemberg, Julio J. - 2010
In a search model, prospects encounter salespeople who can try to persuade them. Persuasive messages can increase the … utility of buying or increase the cost of not buying. The latter reduces welfare. Equilibria where only some salespeople make … a persuasive effort often exist. Salespeople vary in their empathy, and choose their jobs accordingly. When all …
Persistent link: https://www.econbiz.de/10012462677
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Selling Price and Selling Time : The Impact of Seller Motivation
Glower, Michel - 1995
This study considers the role that seller motivation plays in determining sales price and selling time. We find that sale prices are directly related to the estimated value of the property and to the amount of over-pricing, which is directly related to the seller's level of motivation. Further,...
Persistent link: https://www.econbiz.de/10012473818
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The Impatient Salesperson and the Delegation of Pricing Authority
Lazear, Edward P. - 2014
Sales agents are impatient relative to owners. If a good fails to sell, the owner still retains possession of that good and can enjoy its services, whereas the agent receives nothing. As a consequence, sales agents prefer a lower price than does an owner. Owners are therefore reluctant to...
Persistent link: https://www.econbiz.de/10012458136
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The Role of Sales Agents in Information Disclosure : Evidence from a Field Experiment
Allcott, Hunt - 2014
With a large nationwide retailer, we run a natural field experiment to measure the effects of energy use information disclosure, customer rebates, and sales agent incentives on demand for energy efficient durable goods. While a combination of large rebates plus sales incentives substantially...
Persistent link: https://www.econbiz.de/10012458616
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Consumer Reviews and Regulation : Evidence from NYC Restaurants
Farronato, Chiara; Zervas, Georgios - National Bureau of Economic Research - 2022
We investigate the informativeness of hygiene signals in online reviews, and their effect on consumer choice and restaurant hygiene. We first extract signals of hygiene from Yelp. Among all dimensions that regulators monitor through mandated restaurant inspections, we find that reviews are more...
Persistent link: https://www.econbiz.de/10012938684
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Licence to Dine : 007 and the Real Exchange Rate
Craig, Lee A.; Treme, Julianne; Weiss, Thomas - National Bureau of Economic Research - 2021
We constructed a time series of menu prices for the identifiable restaurants at which James Bond dined in France and the UK that yields one of the few international price series representing luxury services. This series enabled us to calculate a real exchange rate based on prices pertinent to...
Persistent link: https://www.econbiz.de/10012660093
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Who Paid Los Angeles' Minimum Wage? A Side-by-Side Minimum Wage Experiment in Los Angeles County
Esposito, Christopher; Leamer, Edward E.; Nickelsburg, Jerry - National Bureau of Economic Research - 2021
In the restaurant industry, the incidence of an increase in the minimum wage may fall on restaurant owners, customers, landlords, and/or employees. We analyze the first two in this study, with implications for the incidence borne by landlords and employees. We exploit a geographical...
Persistent link: https://www.econbiz.de/10012585450
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The Employment and Redistributive Effects of Reducing or Eliminating Minimum Wage Tip Credits
Neumark, David; Yen, Maysen - National Bureau of Economic Research - 2021
Recent policy debate on minimum wages has focused not only on raising the minimum wage, but on eliminating the tip credit for restaurant workers. We use data on past variation in tip credits - or minimum wages for restaurant workers - to provide evidence on the potential impacts of eliminating...
Persistent link: https://www.econbiz.de/10012629433
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The Agglomeration of Urban Amenities : Evidence from Milan Restaurants
Leonardi, Marco; Moretti, Enrico - National Bureau of Economic Research - 2022
In many cities, restaurants and retail establishments are spatially concentrated. Economists have long recognized the presence of demand externalities that arise from spatial agglomeration as a possible explanation, but empirically identifying this type of spillovers has proven difficult. We...
Persistent link: https://www.econbiz.de/10012814438