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We explore the role of firms in insuring non-verifiable output. As a device that allows workers to commit to the delivery of their output, the firm arises endogenously as an alternative to the market if workers are sufficiently risk averse and the firm can base its incentive payments on good...
Persistent link: https://www.econbiz.de/10005144574
We propose an extended principal-agent model considering employee commitment and describe how to motivate committed … are some interesting insights into the characteristic of optimal contracts: First, commitment is an effective motivator …, undifferentiated pay is sufficient in incentivizing committed agent to implement high effort in some cases. Second, commitment and wage …
Persistent link: https://www.econbiz.de/10009395486
Econometrica paper (henceforth AWA), in which individuals face the trade-off between flexibility and commitment, we show that …
Persistent link: https://www.econbiz.de/10010834075
enforceable. Barriers to business start-up lower the competition for knowledge capital and, in absence of commitment, reduce the …
Persistent link: https://www.econbiz.de/10005704976
die Bindungswirkung solcher Praktika unter Rueckgriff auf das psychologische Konstrukt „affektives Commitment“ untersucht … Integration der Praktikanten in den Arbeitsprozess eine Schluesselvariable fuer das Commitment der Praktikanten zur … beschaeftigenden Organisation darstellt. Commitment weist bedeutsame Zusammenhaenge mit der Praktikumszufriedenheit auf und leistet …
Persistent link: https://www.econbiz.de/10005771422
¡°government-bank-firm¡±, we show that the government¡¯s non-commitment and banking bailout cause inefficiency in the contact … relationship. Moreover, after introducing collusion possibility, non-commitment of the government increases the stakes, or bribes … other equilibrium where she sticks to her commitment and excludes collusion from the contract relationship. Here, collusion …
Persistent link: https://www.econbiz.de/10005134539
-scrutinizing aspect of the self and related concept of commitment, and compares this conception to the co1lective intentionality-based one … with recent standard economics' explanation of social identity in terms of conformity. Sen's concept of commitment is …
Persistent link: https://www.econbiz.de/10005137122
of many agents and no commitment. In their counterexample only one agent has private information. We show that if the …
Persistent link: https://www.econbiz.de/10005647422
We explore the role of firms in insuring risk-averse workers. As a device that allows workers to commit to the delivery of their output, the firm arises endogenously as an alternative to the spot market if workers are sufficiently risk averse and the firm can base incentive payments on good...
Persistent link: https://www.econbiz.de/10005667043
This paper studies management when the principal has different degrees of commitment power. In a model in which both … principal to offer more 'collectively oriented' incentive schemes than in the presence of commitment, in order to induce the …
Persistent link: https://www.econbiz.de/10005792112