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Do High Stakes and Competition Undermine Fairness? Evidence from Russia

Fehr, Ernst; Fischbacher, Urs; Tougareva, Elena - Institut für Volkswirtschaftslehre, …

This paper reports the results of a series of competitive labour market experiments in which subjects have the possibility to reciprocate favours. In the high stake condition subjects earned between two and three times their monthly income during the experiment. In the normal stake condition the...

Persistent link: https://www.econbiz.de/10005627948

Fairness, Incentives, and Contractual Choices

Fehr, Ernst; Schmidt, Klaus M. - Institut für Volkswirtschaftslehre, …

incentives through contracts. We provide experimental evidence that principals have a strong preference for less complete … which provides strong pecuniary incentives through an incomplete contract. Selfish principals free-ride and exploit the …

Persistent link: https://www.econbiz.de/10005627963

Psychological Foundations of Incentives

Fehr, Ernst; Falk, Armin - Institut für Volkswirtschaftslehre, …

During the last two decades economists have made much progress in understanding incentives, contracts and organisations … effects of incentives. Economists may fail to understand the levels and the changes in behaviour if they neglect motives like … the desire to reciprocate or the desire to avoid social disapproval. We show that monetary incentives may backfire and …

Persistent link: https://www.econbiz.de/10005627964

Knight Fever towards an Economics of Awards

Frey, Bruno S. - Institut für Volkswirtschaftslehre, …

provision of incentives. Relative price and income effects are shown to be identifiable and strong. A number of empirically …

Persistent link: https://www.econbiz.de/10005627972

Theories of Fairness and Reciprocity - Evidence and Economic Applications

Fehr, Ernst; Schmidt, Klaus M. - Institut für Volkswirtschaftslehre, …

Most economic models are based on the self-interest hypothesis that assumes that all people are exclusively motivated by their material self-interest. In recent years experimental economists have gathered overwhelming evidence that systematically refutes the self-interest hypothesis and suggests...

Persistent link: https://www.econbiz.de/10005627998

Incentives and Static and Dynamic Gains from Market Reform in an Emerging Profits Models.

Chen, T.N.; Kompas, T.; Vousden, N. - Research School of Pacific and Asian Studies, College … - 1999

This paper develops a dynamic model to account for the enhanced incentive effects that result from market reform in the form of a move toward private property rights and competitive market.

Persistent link: https://www.econbiz.de/10005630772

Carrot and Stick Games.

Kline, J.J. - Research School of Pacific and Asian Studies, College … - 1998

In a carrot game for a player, that player must help his opponent in order to get a desired response. In a stick game for a player, that player must hurt his opponent to get a desired response. We show that most all smooth monotonic two player games can be classified as: carrot for both, carrot...

Persistent link: https://www.econbiz.de/10005630790

Markets and Sustainability.

Heal, G. - Graduate School of Business, Columbia University - 1998

incentives. It gives examples of cases in which these problems have been corrected, and considers the scope for a more positive …

Persistent link: https://www.econbiz.de/10005630962

FORWARD CONTRACTS AND FIRM VALUE: INVESTMENT INCENTIVE AND CONTRACTING EFFECTS

BESSEMBINDER, H. - William E. Simon Graduate School of Business … - 1989

Persistent link: https://www.econbiz.de/10005631083

INCENTIVES FOR UNCONSOLIDATED FINANCIAL REPORTING

MIAN, S.L.; SMITH, JR.C.W. - William E. Simon Graduate School of Business … - 1989

Persistent link: https://www.econbiz.de/10005631088