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Persistent link: https://www.econbiz.de/10013190148
This paper analyzes the optimal contract for a consumer to procure a credence good from an expert when (i) the expert might misrepresent his private information about the consumer’s need, (ii) the expert might not choose the requested service since his choice of treatment is non-observable,...
Persistent link: https://www.econbiz.de/10011781931
may create incentives to play 'hard to get' in an effort to increase those rewards. We discuss two specic contexts in … which such incentives arise. In the first, refraining from the activity causes others to attach higher value to it because …
Persistent link: https://www.econbiz.de/10010362185
may create incentives to play "hard to get" in an effort to increase those rewards. We discuss two specific contexts in … which such incentives arise. In the first, refraining from the activity causes others to attach higher value to it because …
Persistent link: https://www.econbiz.de/10010345273
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Are monetary and non-monetary incentives used as substitutes in motivating effort? I address this question in a … laboratory experiment in which the choice of the job characteristics (i.e., the mission) is part of the compensation package that … and non-monetary incentives imperfect. These findings have implications for the design of incentives in mission …
Persistent link: https://www.econbiz.de/10010414760
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Much of economics assumes that higher incentives increase participation in a transaction only because they exceed more … costly, higher incentives also change reservation prices to further increase participation. A higher incentive makes people …. Hence, incentives change not only what people choose, but also what they believe their choices entail. This result informs …
Persistent link: https://www.econbiz.de/10011588031
durables. Who opts into the transaction when given such incentives? We show theoretically and experimentally that increasing …
Persistent link: https://www.econbiz.de/10012052276