incentives and effort provision. To examine this issue, we design three experiments where subjects participate in two-player real …-effort tournaments with two prizes. Experiment 1 shows that subjects exert high effort even if there are no monetary incentives …, suggesting that non-monetary incentives are contributing to their effort choices. Moreover, increasing monetary incentives does …

incentives of US managers to adopt riskier business policies. Specifically, based on the agency problems between shareholders and … rates on managers’ risk-taking incentives proxied by the sensitivity of executive compensation to stock return volatility … increase the managers’ short-term risk-taking incentives and that those incentives contribute to the risk effectively taken by …