Schlagwort: Incentives
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Do High Stakes and Competition Undermine Fairness?
Evidence from Russia
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 (...)
Fairness and Incentives in a Multi-Task Principal-Agent Model
This paper reports on a two-task principal-agent experiment in which only one task is contractible. The principal can either offer a piece-rate contract or a (voluntary) bonus to the agent. Bonus (...)
Psychological Foundations of Incentives
During the last two decades economists have made much progress in understanding incentives, contracts and organisations. Yet, they constrained their attention to a very narrow and empirically (...)
Theories of Fairness and Reciprocity ? Evidence and Economic Applications
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 (...)
Why Social Preferences Matter ? The Impact of Non-Selfish Motives on Competition, Cooperation and Incentives
A substantial number of people exhibit social preferences, which means they are not solely motivated by material self-interest but also care positively or negatively for the material payoffs of (...)