stimulate effort. Through a real-effort artefactual field experiment with factory workers and university students as a …

A standard tournament contract specifies only tournament prizes. If agents' performance is measured on a cardinal scale …, the principal can complement the tournament contract by a gap which defines the minimum distance by which the best … performing agent must beat the second best to receive the winner prize. We analyze a tournament with two risk averse agents …

We study in an experiment whether humans prefer to depend on decisions of other humans (social uncertainty) or states … other humans. This is the first experiment that studies social uncertainty that does not derive from a strategic situation …