While folk theorems for dynamic renewable common pool resource games sustain cooperation as an equilibrium, the possibility of reverting to violence to appropriate the resource destroys the incentives to cooperate, because of the expectation of conflict when resources are sufficiently depleted....

Tenancy has been a means for labor to advance their socio-economic condition in agriculture yet in Brazil and Latin America, tenancy rates are low compared to the U.S. and the OECD countries. We test for the importance of insecure property rights in Brazil on the reluctance of landowners to rent...

Due to the limited availability of firm-level compensation data, there is little empirical evidence on the impact of compensation plans on personal productivity. We study an international law firm that moves from high-powered individual incentives towards incentives for "leadership" activities...

Some analysts view risk as the Achilles Heel of employee ownership and to some extent variable pay plans such as profit sharing and gainsharing. Workers in such "shared capitalist" firms may invest too much of their wealth in the firm, contrary to the principle of diversification. This paper...

Between one-third and one-half of employees participate directly in company performance through profit sharing, gainsharing, employee ownership, or stock options. This flies in the face of concerns about the free rider problem and worker risk aversion in group incentives, and raises many...