its absence despite weaker incentives. We develop a principal-agent model with reference-dependent utility that … illustrates how labor contracts combining weak monetary incentives and wage-irrelevant goals can be optimal. It follows that … recognizing the pervasive use of non-monetary incentives in the workplace may help account for previous empirical findings …

When the assignment of incentives is uncertain, we study how the regularity and frequency of rewards and risk attitudes … show that less able and more risk averse players are less persistent in effort. Intermittent incentives lead to a greater … persistence of effort, while continuous incentives entail exit as soon as payment stops. Randomness increases both earlier and …

When the assignment of incentives is uncertain, we study how the regularity and frequency of rewards and risk attitudes … show that less able and more risk averse players are less persistent in effort. Intermittent incentives lead to a greater … persistence of effort, while continuous incentives entail exit as soon as payment stops. Randomness increases both earlier and …

effect on performance. Therefore, ranking incentives should be used with care. Inducing group identity discourages sabotage …

Senior leadership has two primary levers to influence a direct report: incentives and communication. Financial … incentives are credible and precisely specified but offer limited flexibility. In contrast, communication is flexible but lacks …

incentives. Collective enforcement allows the transparent organization to use strong employment relationships to "cross …

incentives. Collective enforcement allows the transparent organization to use strong employment relationships to "cross …

the principal's imposed contract. While principals governing teams of agents sometimes do use incentives, in cases where … incentives are not present - if agents trust one another - they are each more likely to contribute high effort …