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This paper studies optimal task assignments in a setting where agents are expectation-based loss averse according to KoszegiRabin (2006) and KoszegiRabin (2007) and are compensated according to an aggregated performance measure in which tasks are technologically independent. We show that the...
Persistent link: https://www.econbiz.de/10012927853
A previous literature cautions that paying workers for performance might crowd out non-monetary motives to work hard. Empirical evidence from the field, however, has been based on between-subjects designs that are best suited for detecting crowding out due to low-powered incentives. High-powered...
Persistent link: https://www.econbiz.de/10011946785
, the chapter surveys patient or demand-side factors such as price, income, and preferences; physician or supply …
Persistent link: https://www.econbiz.de/10014025582
A growing body of research suggests that, even after controlling for cognitive abilities, personality predicts economic …
Persistent link: https://www.econbiz.de/10011554485
Persistent link: https://www.econbiz.de/10009722686
actions are incomplete and often biased; second, players' preferences and optimization objectives are not commonly known; and …
Persistent link: https://www.econbiz.de/10012857645
There is an apparent rift between the way banks calculate and the way humans think.On the one hand, exponential discounting has played a centuries-long, lead role in financial analysis. On the other hand, experiments by behavioral economists demonstrate that hyperbolic discounting is better than...
Persistent link: https://www.econbiz.de/10012834166
times are influenced by their expected income levels at those times. Moreover, we recover time preferences after … design also elicited their preferences over delayed rewards that are received only if the subject's income remains … approximately constant. These preferences, along with elicited subjective probabilities of satisfying the condition, make the …
Persistent link: https://www.econbiz.de/10010403760
first empirical investigation of the link between time preferences and criminal behavior. Our study is made possible by … access to a unique Swedish longitudinal dataset that links individual measures of time preferences collected at age 13 to …
Persistent link: https://www.econbiz.de/10010355861
Analysis of an original nationwide Internet survey reveals that health-related behavior shows associations with three aspects of time discounting: (i) impatience, measured by the overall discount rate; (ii) present bias, measured by the degree of declining impatience in the generalized hyperbolic...
Persistent link: https://www.econbiz.de/10009791179