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We conduct laboratory experiments to investigate basic predictions of principal-agent theory about the choice of piece rate contracts in the presence of output risk, and provide novel insights that reference dependent preferences affect the tradeoff between risk and incentives. Subjects in our...
Persistent link: https://www.econbiz.de/10012698074
We conduct laboratory experiments to investigate basic predictions of principal-agent theory about the choice of piece rate contracts in the presence of output risk, and provide novel insights that reference dependent preferences affect the tradeoff between risk and incentives. Subjects in our...
Persistent link: https://www.econbiz.de/10012663086
Persistent link: https://www.econbiz.de/10013189874
Persistent link: https://www.econbiz.de/10003716972
High rewards or the threat of severe punishment do not only provide incentives to exert high levels of effort but also create pressure. Such pressure can cause paradoxical performance effects, namely performance decrements despite strong incentives and high motivation. By analyzing the...
Persistent link: https://www.econbiz.de/10003231933
We conduct a laboratory experiment among male participants to investigate whether rewarding schemes that depend on work performance - in particular, tournament incentives - induce more stress than schemes that are independent of performance - fixed payment scheme. Stress is measured over the...
Persistent link: https://www.econbiz.de/10014233666
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