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phenomenon referred to as choking under pressure. We show that competition for high ability workers nevertheless leads firms to … workers. Bonus payments lead to a social loss which is increasing in the degree of competition. Our paper helps to explain why …
Persistent link: https://www.econbiz.de/10008555999
compensation. The model combines multitasking and screening, embedded into a Hotelling-like framework. Competition for the most …This paper analyzes the impact of labor market competition and skill-biased technical change on the structure of … perfect competition, the resulting efficiency loss can be much larger than that imposed by a single firm or principal, who …
Persistent link: https://www.econbiz.de/10010293214
-dependent exit options for agents. In contrast to screening models with perfect competition, we find that existence of equilibria …This paper examines the effect of imperfect labor market competition on the efficiency of compensation schemes in a … that the efficiency of variable pay depends on the degree of competition for agents: For small degrees of competition, low …
Persistent link: https://www.econbiz.de/10010411960
This paper examines the effect of imperfect labor market competition on the efficiency of compensation schemes in a … high degrees of vertical differentiation, i.e. low competition, low-ability agents are under-incentivized and exert too … little effort. For high degrees of competition, high-ability agents are over-incentivized and bear too much risk. For a range …
Persistent link: https://www.econbiz.de/10011498942
compensation. The model combines multitasking and screening, embedded into a Hotelling-like framework. Competition for the most …This paper analyzes the impact of labor market competition and skill-biased technical change on the structure of … perfect competition, the resulting efficiency loss can be much larger than that imposed by a single firm or principal, who …
Persistent link: https://www.econbiz.de/10010635587
compensation. The model combines multitasking and screening, embedded into a Hotelling-like framework. Competition for the most …This paper analyzes the impact of labor market competition and skill-biased technical change on the structure of … perfect competition, the resulting efficiency loss can be larger than that imposed by a single firm or principal, who distorts …
Persistent link: https://www.econbiz.de/10011083769
This paper examines the effect of imperfect labor market competition on the efficiency of compensation schemes in a … variable payments. The degree of competition then determines the structure of these contracts. Three regions can be … distinguished: For low competition, low-ability agents are under-incentivized and exert too little effort. For high competition …
Persistent link: https://www.econbiz.de/10012609024
-dependent exit options for agents. In contrast to screening models with perfect competition, we find that existence of equilibria …This paper examines the effect of imperfect labor market competition on the efficiency of compensation schemes in a … that the efficiency of variable pay depends on the degree of competition for agents: For small degrees of competition, low …
Persistent link: https://www.econbiz.de/10010420344
This paper examines the effect of imperfect labor market competition on the efficiency of compensation schemes in a … high degrees of vertical differentiation, i.e. low competition, low-ability agents are under-incentivized and exert too … little effort. For high degrees of competition, high-ability agents are over-incentivized and bear too much risk. For a range …
Persistent link: https://www.econbiz.de/10011531597
This paper examines the effect of imperfect labor market competition on the efficiency of compensation schemes in a … variable payments. The degree of competition then determines the structure of these contracts. Three regions can be … distinguished: For low competition, low-ability agents are under-incentivized and exert too little effort. For high competition …
Persistent link: https://www.econbiz.de/10012253127