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Fairness and contract design
Fehr, Ernst; Klein, Alexander; Schmidt, Klaus M. - 2005 - This version: November 5, 2005
, which offer important new insights into the interaction of contract choices, fairness and incentives. …We show experimentally that fairness concerns may have a decisive impact on the actual and optimal choice of contracts … provide powerful incentives and are superior to explicit incentive contracts when there are some fair-minded players. But …
Persistent link: https://www.econbiz.de/10010371080
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Fairness and Contract Design
Fehr, Ernst; Klein, Alexander; Schmidt, Klaus M. - 2005
, which offer important new insights into the interaction of contract choices, fairness and incentives. …We show experimentally that fairness concerns may have a decisive impact on the actual and optimal choice of contracts … provide powerful incentives and are superior to explicit incentive contracts when there are some fair-minded players. But …
Persistent link: https://www.econbiz.de/10010333864
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Contracts, fairness, and incentives
Fehr, Ernst; Klein, Alexander; Schmidt, Klaus M. - 2004 - This version: March 31, 2004
, fairness and incentives. …We show experimentally that fairness concerns may have a decisive impact on both the actual and the optimal choice of … inferior when some agents value fairness. Conversely, implicit bonus contracts that are doomed to fail among purely selfish …
Persistent link: https://www.econbiz.de/10010440446
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Contracts, fairness, and incentives
Fehr, Ernst; Klein, Alexander; Schmidt, Klaus M. - 2004
, fairness and incentives. …We show experimentally that fairness concerns may have a decisive impact on both the actual and the optimal choice of … inferior when some agents value fairness. Conversely, implicit bonus contracts that are doomed to fail among purely selfish …
Persistent link: https://www.econbiz.de/10011449534
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Contracts, Fairness, and Incentives
Fehr, Ernst; Klein, Alexander; Schmidt, Klaus M. - 2004
, fairness and incentives. …We show experimentally that fairness concerns may have a decisive impact on both the actual and the optimal choice of … inferior when some agents value fairness. Conversely, implicit bonus contracts that are doomed to fail among purely selfish …
Persistent link: https://www.econbiz.de/10010427396
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Contracts, fairness, and incentives
Fehr, Ernst; Klein, Alexander; Schmidt, Klaus M. - 2004
, fairness and incentives. …We show experimentally that fairness concerns may have a decisive impact on both the actual and the optimal choice of … inferior when some agents value fairness. Conversely, implicit bonus contracts that are doomed to fail among purely selfish …
Persistent link: https://www.econbiz.de/10010261212
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Contracts, Fairness, and Incentives
Fehr, Ernst; Klein, Alexander; Schmidt, Klaus M. - Volkswirtschaftliche Fakultät, … - 2004
, fairness and incentives. …We show experimentally that fairness concerns may have a decisive impact on both the actual and the optimal choice of … inferior when some agents value fairness. Conversely, implicit bonus contracts that are doomed to fail among purely selfish …
Persistent link: https://www.econbiz.de/10005649797
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Adding a stick to the carrot? : the interaction of bonuses and fines
Fehr, Ernst; Schmidt, Klaus M. - 2007
actually pay the announced bonus. This offers a new explanation for why explicit and implicit incentives are substitutes rather …
Persistent link: https://www.econbiz.de/10010365854
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Adding a Stick to the Carrot? The Interaction of Bonuses and Fines
Fehr, Ernst; Schmidt, Klaus M. - 2007
actually pay the announced bonus. This offers a new explanation for why explicit and implicit incentives are substitutes rather …
Persistent link: https://www.econbiz.de/10010333948
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Adding a Stick to the Carrot? The Interaction of Bonuses and Fines
Fehr, Ernst; Schmidt, Klaus M. - Volkswirtschaftliche Fakultät, … - 2007
actually pay the announced bonus. This offers a new explanation for why explicit and implicit incentives are substitutes rather …
Persistent link: https://www.econbiz.de/10005739688