actors provide powerful incentives and become superior when there are some fair-minded players. The principals understand … enforcement power of explicit and implicit incentives. This contract preference is associated with the fact that explicit … incentives weaken the enforcement power of implicit bonus incentives significantly. Our results are largely consistent with …

We examine experimentally how Chief Executive Officers (CEOs) respond to incentives and how they provide incentives in … higher efficiency levels than students. Moreover, we find that, for CEOs as well as for students, incentives based on … incentives. However, the availability of penalizing incentives also creates hidden returns: If a principal expresses trust by …

relational incentives are a powerful causal determinant for the existence and performance of credit markets. In fact, in the … incentives and exacerbates another moral hazard problem in credit markets the choice of inefficient high-risk projects. -- Credit …