Showing 1 - 10 of 3,636
We examine, experimentally and theoretically, how communication within a partnership may mitigate the problem (highlighted in contract theory) of hidden action. What is the form and content of the communication? Which model of decision-making can capture the impact of communication? We consider...
Persistent link: https://www.econbiz.de/10005645507
Recently developed models of fairness can explain a wide variety of seemingly contradictory facts. The most … controversial and yet unresolved issue in the modeling of fairness preferences concerns the behavioral relevance of fairness … intentions. Intuitively, fairness intentions seem to play an important role in economic relations, political struggles and legal …
Persistent link: https://www.econbiz.de/10005627833
exclusively based on preferences over the distribution of material payoffs. Models that take into account players’ fairness …
Persistent link: https://www.econbiz.de/10005627957
To explain potential sources of wage rigidity this article analyzes a model of reciprocal kindness applied to a repeated ultimatum game with changing and nonzero conflict payoffs. The model is also tested in a laboratory experiment. The results are compatible with the rentsharing approach to...
Persistent link: https://www.econbiz.de/10005765137
incompleteness and relational nature of most employment contracts and (b) the existence of reference-dependent fairness concerns … among a substantial share of the population into account. Theory shows and experiments confirm that, even if fairness … fairness on effort, derive predictions from our approach for entry-level wages and incumbent workers’ wages, confront these …
Persistent link: https://www.econbiz.de/10008765247
usually have incomplete information about fairness norms held by the other party - fairness norms that affect the other party …'s willingness to pay (WTP) or willingness to accept (WTA). Importantly, these fairness norms may depend on how strongly the … participants can be divided into three groups corresponding to three different fairness norms: negative types whose WTP and WTA are …
Persistent link: https://www.econbiz.de/10011633871
This study extends a bilateral gift exchange experiment by Clark et al. (2010) who investigate how feedback of information about wages paid in the market affects both employers' wage setting and workers' performance. We provide either quantitative or qualitative information on the average wage...
Persistent link: https://www.econbiz.de/10010304285
This study extends a bilateral gift exchange experiment by Clark et al. (2010) who investigate how feedback of information about wages paid in the market affects both employers' wage setting and workers' performance. We provide either quantitative or qualitative information on the average wage...
Persistent link: https://www.econbiz.de/10008854377
Intention-based models of reciprocity argue that people assess kindness by measuring the intended consequences of … alternatives and realized payoffs. Aggregate results suggest that intended consequences only weakly matter for negative reciprocity …
Persistent link: https://www.econbiz.de/10010309312
Intention-based models of reciprocity argue that people assess kindness by measuring the intended consequences of … alternatives and realized payoffs. Aggregate results suggest that intended consequences only weakly matter for negative reciprocity …
Persistent link: https://www.econbiz.de/10010956821