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We examine how self-selection of workers into firms depends on the power of the firms' incentive schemes and how it affects the performance of firms that increase the power of the incentive schemes. In a laboratory experiment, we let subjects choose between (low-powered) team incentives and...
Persistent link: https://www.econbiz.de/10010325865
Both private and public organizations constantly grapple with incentive schemes to induce maximum effort from agents. We begin with a theoretical exploration of optimal contest design, focusing on the number of competitors. Our theory reveals a critical link between the distribution of luck and...
Persistent link: https://www.econbiz.de/10013056205
Persistent link: https://www.econbiz.de/10010346620
Persistent link: https://www.econbiz.de/10012305232
Both private and public organizations constantly grapple with incentive schemes to induce maximum effort from agents. We begin with a theoretical exploration of optimal contest design, focusing on the number of competitors. Our theory reveals a critical link between the distribution of luck and...
Persistent link: https://www.econbiz.de/10012458656