regularities by developing a new firmbased trade model wherein managers are risk averse. Higher volatility induces the reallocation …

gains from training and improving investment incentives. The latter effect always prevails. Our empirical analysis, based on …

capital holdings. We show that the introduction of tuition fees (a) improves individual incentives to work and/or save and (b … private incentives …

of years spent in retirement” are characterized by constant or decreasing absolute risk aversion. A similar result … decided upon by the government and the other where the retirement age is a private decision-variable …

altruistic. Absent worker heterogeneity, an altruistic principal signals his altruism by offering relatively weak incentives and … excessively strong incentives and a relatively high expected total compensation …

corporate tax rates. We show that differences in productivities, differences in operational and tax risk and the correlations of …

Prior work has demonstrated that prosocial incentives – where individuals' effort benefits a charitable organization … – can be more effective than standard incentives, particularly when the stakes are low. Yet, little is known about the … effectiveness of prosocial incentives on people's decisions to participate or opt-in to the incentivized activity in the first place …