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Rankings are a pervasive feature of the finance industry. Although they have no direct monetary consequences, rankings provide utility for intrinsic (positive self-image) and extrinsic (status) reasons. We recruit a unique subject pool of 204 financial professionals and investigate how anonymous...
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We conducted two field experiments in a tree-thinning setting. In one experiment, we switched the pay of a randomly … throughout. In the second experiment, workers were switched from hourly to piece rate pay all at once. The difference …
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