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Optimal incentive contracts for a worker who envies his boss : presented at CESifo Venice Summer Institute, Workshop on Dissecting Globalization, July 2004
Dur, Robert A. J.; Glazer, Amihai - 2004
A worker's utility may increase in his own income, but envy can make his utility decline with his employer's income … various assumptions about the object and generality of envy. Envy amplifies the effect of incentives on effort and, therefore …, increases optimal incentive pay. Moreover, envy can make profitsharing optimal, even when the worker's effort is fully …
Persistent link: https://www.econbiz.de/10011450877
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Altruism and envy in contests : an evolutionarily stable symbiosis
Konrad, Kai A. - 2002
Altruists and envious people who meet in contests are symbionts. They do better than a population of narrowly rational individuals. If there are only altruists and envious individuals, a particular mixture of altruists and envious individuals is evolutionarily stable.
Persistent link: https://www.econbiz.de/10011514081
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Present-biased envy, inequality, and growth
Borissov, Kirill; Pakhnin, Mikhail; Wendner, Ronald - 2024
We take into account that envy (relative consumption concerns) is more pronounced in the present than in the future. We … exogenous parameters. Agents' preferences exhibit present-biased envy: agents are naive and care about how their consumption … levels compare to that of others in the current period. Our results suggest that present-biased envy affects both the level …
Persistent link: https://www.econbiz.de/10014528209
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Incentives and workers' motivation in the public sector : presented at CESifo Area Conference on Public Sector Economics, May 2004
Delfgaauw, Josse; Dur, Robert A. J. - 2004
Civil servants have a bad reputation of being lazy. However, citizens' personal experiences with civil servants appear to be significantly better. We develop a model of an economy in which workers differ in laziness and in public service motivation, and characterise optimal incentive contracts...
Persistent link: https://www.econbiz.de/10011449658
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Job search and savings : wealth effects and duration dependence
Lentz, Rasmus; Tranæs, Torben - 2001
In this paper we consider a risk averse worker who is moving back and forth between employment and unemployment; layoffs are random and beyond the worker s influence, while the re-employment chance is directly affected by search effort. We characterize the worker s optimal savings and job-search...
Persistent link: https://www.econbiz.de/10011398412
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On the allocation of time
Duernecker, Georg; Herrendorf, Berthold - 2014 - This version: March 2014
We document for the US and Continental Europe that home-production time remained essentially flat during the last 50 years while changes in market time and leisure offset each other. We then focus on the US and France during 1970-2005 which are on the opposite sides of the spectrum: while US...
Persistent link: https://www.econbiz.de/10011490472
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When unemployment disappears : Ireland in the 1990s
Walsh, Brendan M. - 2003
This paper examines the behaviour of the Irish labour market during the 1990s. Over the course of the decade the Irish unemployment rate fell from the highest to the lowest in the EU. Over the same period a record number of jobs was created and all the indicators suggest that full employment was...
Persistent link: https://www.econbiz.de/10011514165
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Flexicurity, wage dynamics and inequality over the life-cycle
Bingley, Paul; Cappellari, Lorenzo; … - 2011
We investigate the relationship between life-cycle wages and flexicurity in Denmark. We separate permanent from transitory wages and characterise flexicurity using membership of unemployment insurance funds. We find that flexicurity is associated with lower wage growth heterogeneity over the...
Persistent link: https://www.econbiz.de/10009273938
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Weber's law and the biological evolution of risk preferences : the selective dominance of the logarithmic utility function
Sinn, Hans-Werner - 2002
The paper offers a proof that expected utility maximisation with logarithmic utility is a dominant preference in the biological selection process in the sense that a population following any other preference for decision-making under risk will, with a probability that approaches certainty,...
Persistent link: https://www.econbiz.de/10011541191
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Preponderance of evidence
Demougin, Dominique; Fluet, Claude - 2002
This paper analyzes the incentive properties of the standard and burden of proof for a finding of negligence, when evidence is imperfect and rests with the parties. We show that the preponderance of evidence' standard provides maximal incentives to exert care. This holds even though litigants...
Persistent link: https://www.econbiz.de/10011409967