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Persistent link: https://www.econbiz.de/10009762369
We use an experiment to study the effect of ex-post sharing rules on relationship-specific investments in an incomplete contracting context. We find that no power structure can induce first-best investments and that equally productive partners reach more efficient outcomes with a balanced power...
Persistent link: https://www.econbiz.de/10010665913
This paper investigates the hypothesis that the objective function of economic agents is non-separable in economic incentives and social preferences. We study fixed-prize contests in a 2×2 experimental design, varying orthogonally the degree of competition of the incentive mechanism (all-pay...
Persistent link: https://www.econbiz.de/10011116886
This paper provides a direct test of the hypothesis that agents' objective functions are non-separable in economic incentives and social preferences. We study experimentally fixed-prize contests using a 2x2 design, varying orthogonally the degree of competition of the incentive mechanism...
Persistent link: https://www.econbiz.de/10010901421
Persistent link: https://www.econbiz.de/10011296502