This paper studies how pay transparency affects organizations that reward employees based on their efforts (i.e., using … "subjective performance evaluation"). First, we show that transparency triggers social comparisons that require the organization …, we show that transparency enables the employees to collectively sanction the organization for reneging on subjective …

Despite the recent trend towards greater transparency of monetary policy, in many respects mystique still prevails in … assumption of imperfect common knowledge about the degree of central bank transparency, economic outcomes are affected by both … the actual and perceived degree of transparency. It is shown that actual transparency is beneficial while it may be useful …

We study internal incentives, transparency and firm performance in multidivisional organizations. Two independent … principal-agent contract with and without performance transparency. Then, we show how effort spillovers affect the equilibrium …