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Charness, Gary; Kuhn, Peter; Villeval, Marie Claire - 2021

The 'ratchet effect' refers to a situation where a principal uses private information that is revealed by an agent's early actions to the agent's later disadvantage, in a context where binding multi-period contracts are not enforceable. In a simple, context-rich environment, we experimentally...

Persistent link: https://www.econbiz.de/10013324885

Authority and Incentives in Organizations

Kräkel, Matthias - 2013

based on authority rights and minimizing costs for implementing high efforts. Concentrated delegation and hierarchical … delegation turn out to be never an optimal compromise. If the CEO is more efficient than the division heads (i.e., the CEO …'s costs from exerting high effort are smaller than those of the division heads), the owner will prefer full delegation to the …

Persistent link: https://www.econbiz.de/10013084675

Turning Relative Deprivation into a Performance Incentive Device

Stark, Oded; Kosiorowski, Grzegorz - 2021

The inclination of individuals to improve their performance when it lags behind that of others with whom they naturally compare themselves can be harnessed to optimize the individuals' effort in work and study. In a given set of individuals, we characterize each individual by his relative...

Persistent link: https://www.econbiz.de/10013250257

Competition, Cooperation, and Corporate Culture

Kosfeld, Michael; von Siemens, Ferdinand - 2021

Teamwork and cooperation between workers can be of substantial value to a firm, yet the level of worker cooperation often varies between individual firms. We show that these differences can be the result of labor market competition if workers have heterogeneous preferences and preferences are...

Persistent link: https://www.econbiz.de/10013316936

The Economics of Credence Goods : On the Role of Liability, Verifiability, Reputation and Competition

Dulleck, Uwe - 2009

Credence goods markets are characterized by asymmetric information between sellers and consumers that may give rise to inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the determinants for efficiency in credence goods...

Persistent link: https://www.econbiz.de/10012764487

Reveal it or Conceal it : On the Value of Second Opinions in a Low-Entry-Barriers Credence Goods Market

Bindra, Parampreet - 2020

Credence goods markets with their asymmetric information between buyers and sellers are prone to large inefficiencies. In theory, poorly informed consumers can protect themselves from maltreatment through sellers by asking for second opinions from other sellers. Yet, empirical evidence whether...

Persistent link: https://www.econbiz.de/10012831233

Private Education Market, Information on Test Scores and Tuition Practices

Firpo, Sergio - 2014

In this paper, we study the impact of disclosing information about school quality of private schools in Brazil on school choice. Particularly, we investigate whether test score disclosure affected private schools' tuition prices. In 2006, Brazil started to announce the schools' average test...

Persistent link: https://www.econbiz.de/10013046255

Asymmetric Information in the Labor Market, Immigrants and Contract Menu

Kar, Saibal - 2011

Immigrant workers and their labor force participation in host countries have received critical attention in all concerned disciplines, principally owing to its strong implications for well-being of natives. The aging population in many rich countries and several related and unrelated issues...

Persistent link: https://www.econbiz.de/10013129911

Task Difficulty, Performance Measure Characteristics, and the Trade-Off between Insurance and Well-Allocated Effort

Schnedler, Wendelin - 2021

When designing incentives for a manager, the trade-off between insurance and a "good" allocation of effort across various tasks is often identified with a trade-off between the responsiveness (sensitivity, precision, signal-noise ratio) of the performance measure and its similarity (congruity,...

Persistent link: https://www.econbiz.de/10013317592

In Search of Stars : Network Formation among Heterogeneous Agents

Goeree, Jacob K.; Riedl, Arno; Ule, Aljaz - 2021

This paper reports results from a laboratory experiment on network formation among heterogeneous agents. The experimental design extends the Bala-Goyal (2000) model of network formation with decay and two-way flow of benefits by allowing for agents with lower linking costs or higher benefits to...

Persistent link: https://www.econbiz.de/10013318256

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