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We study how different payment modes inuence the effectiveness of gift exchange as a contract enforcement device. In particular, we analyze how horizontal fairness concerns affect performance and efficiency in an environment characterized by contractual incompleteness. In our experiment, one...
Persistent link: https://www.econbiz.de/10010277484
. -- Wage setting ; wage equality ; equity ; gift exchange ; reciprocity ; incomplete contracts …
Persistent link: https://www.econbiz.de/10003863658
. -- wage setting ; wage equality ; equity ; gift exchange ; reciprocity ; incomplete contracts …
Persistent link: https://www.econbiz.de/10003854042
Empirical studies of the principal-agent relationship find that extrinsic incentives work in many instances, linking rewards to performance increases effort, but that they can also backfire, reducing effort. Intrinsic motivation, the internal drive to work to master a skill or to improve one's...
Persistent link: https://www.econbiz.de/10009771729
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 principals can use to influence the agents' effort....
Persistent link: https://www.econbiz.de/10010414760
We study how different payment modes influence the effectiveness of gift exchange as a contract enforcement device. In particular, we analyze how horizontal fairness concerns affect performance and efficiency in an environment characterized by contractual incompleteness. In our experiment, one...
Persistent link: https://www.econbiz.de/10013158119
Empirical studies of the principal-agent relationship find that extrinsic incentives work in many instances, linking rewards to performance increases effort, but that they can also backfire, reducing effort. Intrinsic motivation, the internal drive to work to master a skill or to improve one's...
Persistent link: https://www.econbiz.de/10013078830
This paper reports on the results of an experiment testing whether the agents selfselect between a competitive payment scheme and a revenue-sharing scheme depending on their inequity aversion. Average efficiency should be increased when these payment schemes are endogenously chosen by agents. We...
Persistent link: https://www.econbiz.de/10014216314
chains facilitate cooperation by balancing positive and negative reciprocity. -- team production ; public goods ; incentives …
Persistent link: https://www.econbiz.de/10009303879
We study the effects of communication in an experimental tournament between teams. When teams, rather than individuals … communication in such situations may have ambiguous effects on effort choices. Communication within teams may promote higher efforts … by mitigating the internal free-rider problem. Communication between competing teams may lead to collusion, thereby …
Persistent link: https://www.econbiz.de/10003951420