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. Second, flat wages should be used for verifiable effort so as to avoid unnecessary incentives. Third, less incentive …, when verifiable effort made incentives moot, as is the case for the second prediction, the model failed to order the data …
Persistent link: https://www.econbiz.de/10008788243
We develop a wage-structure determination model in which a firm with incomplete information offers an optimal sequence of contracts for its heterogeneous employees. The model integrating the principal-agent framework and monitoring mechanism is characterized by endogeneity of the selection of...
Persistent link: https://www.econbiz.de/10010866746
The economic importance of "knowledge work" has become widely accepted. Less widely accepted are the changes knowledge work requires in how we manage performance. This paper explores the differences between knowledge work and more traditional physical and managerial work, in the context of...
Persistent link: https://www.econbiz.de/10010691722
Despite the social importance of awards, they have been largely disregarded by academic research in economics. This paper investigates whether receiving prestigious academic awards—the John Bates Clark Medal and the Fellowship of the Econometric Society—is associated with higher subsequent...
Persistent link: https://www.econbiz.de/10011117314
tasks. We analyze the effects of the salience of incentives in a team production setting where the principal has an interest … incentive system without changing the incentive system. The results indicate that salience of incentives itself is statistically … and economically important for performance. We find that higher salience of incentives for quantity increases quantity …
Persistent link: https://www.econbiz.de/10011279295
We investigate the efficiency of piece-rate contracts using data from a field experiment, conducted within a tree-planting firm. During the experiment, the piece rate paid to planters was exogenously increased. Regression methods yield an estimate of the elasticity of output with respect to...
Persistent link: https://www.econbiz.de/10005015322
tasks. We analyze the effects of the salience of incentives in a team production setting where the principal has an interest … incentive system without changing the incentive system. The results indicate that salience of incentives itself is statistically … and economically important for performance. We find that higher salience of incentives for quantity increases quantity …
Persistent link: https://www.econbiz.de/10010539149
collect data from a field experiment where incentives are exogenously imposed, performance is monitored and individual …, this is true only for men, while women do not seem to react to non-monetary incentives. …
Persistent link: https://www.econbiz.de/10009226003
We conduct a field experiment where we vary both the presence of a gift exchange wage and the effect of the worker’s effort on the manager’s payoff. The results indicate a strong complementarity between the initial wage gift and the agent’s ability to “repay the gift”. We collect...
Persistent link: https://www.econbiz.de/10009421689
financial incentives. We find that only higher-valued financial incentives generated more donations, increasing with the value … of the reward. These incentives did not create adverse selection in the safety or usability of the donated blood. We …
Persistent link: https://www.econbiz.de/10010729496