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We model a managerial decision environment in which a manager both determines the skill heterogeneity of her workers and determines whether to retain or delegate the ability to allocate tasks. The manager prefers delegating when uncertainty is sufficiently high relative to the incentive conflict...
Persistent link: https://www.econbiz.de/10012924939
The canonical principal-agent problem involves a risk-neutral principal who must use incentives to motivate a risk … is true, then the lessons to be learned from principal-agency theory are all the wrong ones. Concentrating on incentives …
Persistent link: https://www.econbiz.de/10014027929
responsive to agents' performance. Agents' performance is higher in the presence of goal setting despite weaker incentives. We … incentives and wage-irrelevant goals can be optimal. The pervasive use of non-monetary incentives in the workplace may help … account for previous empirical findings suggesting that firms rely on unexpectedly weak monetary incentives. …
Persistent link: https://www.econbiz.de/10011515824
To date, much of the literature on institutional economics has relied on abstract metaphors based in exchange. Thus, Williamson introduced the fundamental insights surrounding his “transaction costs” model and discussed the governance of contracts in exchange relationships. Yet organizations...
Persistent link: https://www.econbiz.de/10014048273
Employees' incentive to invest in their task proficiency depends on the likelihood that they will execute the same tasks in the future. Changes in tasks can be warranted as a result of technological progress and changes in firm strategy as well as from fine-tuning job design and from monitoring...
Persistent link: https://www.econbiz.de/10010255026
Employees' incentive to invest in their task proficiency depends on the likelihood that they will execute the same tasks in the future. Changes in tasks can be warranted as a result of technological progress and changes in firm strategy as well as from fine-tuning job design and from monitoring...
Persistent link: https://www.econbiz.de/10014147686
tournament. In this dynamic setting we test (i) whether giving continuous feedback (vs. final ex post feedback) on the opponent …
Persistent link: https://www.econbiz.de/10012390889
In this paper we show that subtle forms of deceit undermine the effectiveness of incentives. We design an experiment in … level that prevails in the absence of any feedback. Thus, both no feedback and truthful feedback are better for incentives …
Persistent link: https://www.econbiz.de/10013316654