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Holmlund, Bertil - 2009

theory, other theories, and empirical research. The main conclusion is that mechanical rules for performance-related pay are …

Persistent link: https://www.econbiz.de/10010321424

The Effect of Noise in a Performance Measure on Work Motivation

Sloof, Randolph; van Praag, C. Mirjam - 2008

than in the stable environment. This finding is in line with standard agency theory and contrasts a distinct element of … expectancy theory; noisier performance measures do not lower work motivation. …

Persistent link: https://www.econbiz.de/10010325762

Imposing economic constraints in nonparametric regression: survey, implementation and extension

Henderson, Daniel J.; Parmeter, Christopher F. - 2009

Economic conditions such as convexity, homogeneity, homotheticity, and monotonicity are all important assumptions or consequences of assumptions of economic functionals to be estimated. Recent research has seen a renewed interest in imposing constraints in nonparametric regression. We survey the...

Persistent link: https://www.econbiz.de/10010269107

CEO compensation

Frydman, Carola; Jenter, Dirk - 2010

This paper surveys the recent literature on CEO compensation. The rapid rise in CEO pay over the past 30 years has sparked an intense debate about the nature of the pay-setting process. Many view the high level of CEO compensation as the result of powerful managers setting their own pay. Others...

Persistent link: https://www.econbiz.de/10010285538

Why firms avoid cutting wages: Survey evidence from European firms

Du Caju, Philip; Kosma, Theodora; Lawless, Martina; … - 2013

The rarity with which firms reduce nominal wages has been frequently observed, even in the face of considerable negative economic shocks. This paper uses a unique survey of fourteen European countries to ask firms directly about the incidence of wage cuts and to assess the relevance of a range...

Persistent link: https://www.econbiz.de/10011506771

Why do wages become more rigid during a recession than during a boom?

Yokoyama, Izumi - In: IZA Journal of Labor Economics 3 (2014), pp. 1-23

This paper provides a theoretical and empirical analysis of the effect of performance-based layoffs on wage rigidity in the context of performance pay. In the model, it becomes optimal for firms to raise future regular pay to maintain workers' current efforts, which results in downwardly rigid...

Persistent link: https://www.econbiz.de/10011603322

Equilibrium Wage Arrears: A Theoretical and Empirical Analysis of Institutional Lock-In

Earle, John S.; Sabirianova, Klara Z. - 2000

We present a model of wage contract violation that implies a possibility of multiple equilibria in the level of arrears. Positive feedback arises because each employer's arrears affect the costs of late payment faced by other employers operating in the same labor market, resulting in a network...

Persistent link: https://www.econbiz.de/10010262404

High Compensation Creates a Ratchet Effect

Glazer, Amihai; Gersbach, Hans - 2004

We consider a firm which pays a worker for his effort over several periods. The more the firm pays in one period, the wealthier the worker is in the following periods, and so the more he must be paid for a given effort. This wealth effect can induce an employer to pay little initially and more...

Persistent link: https://www.econbiz.de/10010261892

Contractual and organizational structure with reciprocal agents

Englmaier, Florian; Leider, Stephen - 2008

Empirically, compensation systems generate substantial effort despite weak monetary incentives. We consider reciprocal motivations as a source of incentives. We solve for the optimal contract in the basic principal-agent problem and show that reciprocal motivations and explicit performance-based...

Persistent link: https://www.econbiz.de/10010264451

Potential, prizes and performance : testing tournament theory with professional tennis data

Sunde, Uwe - 2003

This paper tests two hypotheses from the theory of elimination tournaments: (i) that uneven tournaments, where the … contestants are ex ante heterogeneous, entail lower effort exertion; this is a prediction from agency theory that has not been … underlies any agency theory about elimination tournaments, and has been empirically tested in other contexts. The evidence …

Persistent link: https://www.econbiz.de/10010261647

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