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; productivity ; ability ; piece rates ; tournament ; revenue sharing ; risk preferences ; overconfidence ; gender ; experiment …This paper studies the impact of incentives on worker self-selection in a controlled laboratory experiment. In a first …. Depending on the treatment, the variable payment is either a piece rate, a tournament or a revenue-sharing scheme. We elicit …
Persistent link: https://www.econbiz.de/10003289888
Milton Friedman has famously claimed that the responsibility of a manager who is not the owner of a firm is "to conduct the business in accordance with their [the shareholders'] desires, which generally will be to make as much money as possible." In this paper we argue that when contracts are...
Persistent link: https://www.econbiz.de/10011906086
-effort experiment we vary two determinants of pay regimes: discrimination and justification of payments by performance. In our … Discrimination treatment half of the workforce is randomly selected and promoted and participate in a tournament (high-income workers … performance. When all payments are justified, that is in our Competition treatment where all workers participate in a tournament …
Persistent link: https://www.econbiz.de/10011668249
This paper reports the results from a large-scale laboratory experiment investigating the impact of tournament …
Persistent link: https://www.econbiz.de/10012992590
This paper reports the results from a large-scale laboratory experiment investigating the impact of tournament …
Persistent link: https://www.econbiz.de/10012993369
effort. In an experiment in which the rate of effort needed to achieve the standard was held constant, participants facing …
Persistent link: https://www.econbiz.de/10012854791
bonus is substantial. In this case, however, the data suggests that tournament competition crowds out voluntary cooperation …
Persistent link: https://www.econbiz.de/10012779052
This paper studies the impact of incentives on worker self-selection in a controlled laboratory experiment. In a first …. Depending on the treatment, the variable payment is either a piece rate, a tournament or a revenue-sharing scheme. We elicit … findings are as follows. First, output is much higher in the variable pay schemes (piece rate, tournament, and revenue sharing …
Persistent link: https://www.econbiz.de/10012780523
Milton Friedman has famously claimed that the responsibility of a manager who is not the owner of a firm is "to conduct the business in accordance with their [the shareholders'] desires, which generally will be to make as much money as possible." In this paper we argue that when contracts are...
Persistent link: https://www.econbiz.de/10011931754
experiment reproduces this model in the laboratory by means of various treatments in which we alter the variance of the …
Persistent link: https://www.econbiz.de/10013316656