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concerns on economic outcomes. We also review evidence from laboratory and field experiments examining the role of wages and … fairness on effort, derive predictions from our approach for entry-level wages and incumbent workers' wages, confront these …
Persistent link: https://www.econbiz.de/10010269083
concerns on economic outcomes. We also review evidence from laboratory and field experiments examining the role of wages and … fairness on effort, derive predictions from our approach for entry-level wages and incumbent workers' wages, confront these … of economic policies such as minimum wage laws. -- Fairness ; contracts ; wages ; effort ; experiments …
Persistent link: https://www.econbiz.de/10003793473
concerns on economic outcomes. We also review evidence from laboratory and field experiments examining the role of wages and … fairness on effort, derive predictions from our approach for entry-level wages and incumbent workers' wages, confront these …
Persistent link: https://www.econbiz.de/10012768171
concerns on economic outcomes. We also review evidence from laboratory and field experiments examining the role of wages and … fairness on effort, derive predictions from our approach for entry-level wages and incumbent workers' wages, confront these …
Persistent link: https://www.econbiz.de/10005762059
workers if (i) discretion increases productivity, (ii) workers can be screened by past performance, (iii) some workers … reciprocate high wages with high effort and (iv) employers pay high wages leaving rents to their workers. In this paper we show … experimentally that the productivity increase due to discretion is not only sufficient but also necessary for the optimality of …
Persistent link: https://www.econbiz.de/10010334127
workers if (i) discretion increases productivity, (ii) workers can be screened by past performance, (iii) some workers … reciprocate high wages with high effort and (iv) employers pay high wages leaving rents to their workers. In this paper we show … experimentally that the productivity increase due to discretion is not only sufficient but also necessary for the optimality of …
Persistent link: https://www.econbiz.de/10009571576
workers if (i) discretion increases productivity, (ii) workers can be screened by past performance, (iii) some workers … reciprocate high wages with high effort and (iv) employers pay high wages leaving rents to their workers. In this paper we show … experimentally that the productivity increase due to discretion is not only sufficient but also necessary for the optimality of …
Persistent link: https://www.econbiz.de/10011140988
We show experimentally that fairness concerns may have a decisive impact on the actual and optimal choice of contracts in a moral hazard context. Bonus contracts that offer a voluntary and unenforceable bonus for satisfactory performance provide powerful incentives and are superior to explicit...
Persistent link: https://www.econbiz.de/10010333864
In this paper we report on a principal-agent experiment where the principal can choose whether to rely on an unenforcable bonus contract or to combine the bonus contract with a fine if the agent's effort falls below a minimum standard. We show that most principals do not use the fine and that...
Persistent link: https://www.econbiz.de/10010333948
Lecture on the first SFB/TR 15 meeting, Gummersbach, July, 18 - 20, 2004: We report on several experiments on the optimal allocation of ownership rights. The experiments confirm the property rights approach by showing that the ownership structure affects relationship-specific investments and...
Persistent link: https://www.econbiz.de/10010334015