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In this paper we analyze the behavioral consequences of transparent wage distributions on workers' motivation. We study a simple gift-exchange game with one principal and three agents in two different treatments. In the first treatment, agents are not informed about their co-workers' wages and...
Persistent link: https://www.econbiz.de/10012728738
The excessive compensation packages of CEOs of U.S. corporations in recent years have brought the issue of fairness to …, cares only about efficiency and not fairness. We present an alternative theory that shows that an ideal free market … environment also promotes fairness, as an emergent property resulting from the self-organizing market dynamics. Even though an …
Persistent link: https://www.econbiz.de/10013147959
This paper presents the experimental results of a “Transcontinental Ultimatum Game” implemented between India and France. The bargaining took the form of standard ultimatum games, but in one treatment Indian subjects made offers to French subjects and, in another treatment, French subjects...
Persistent link: https://www.econbiz.de/10013134131
The "Sarkozy Report" edited by Joseph E. Stiglitz, Amartya Sen and Jean-Paul Fitoussi argued that GDP does not provide reliable information on the economic performance and social progress of a country. The Commission expressed, rather, a preference for an indicator of "sustainable well-being",...
Persistent link: https://www.econbiz.de/10014154212
This paper analyses one of Turgot's first economic essays, Plan d´un ouvrage sur le commerce, la circulation et l´intérêt de l´argent, la richesse des états (1753-4). Written prior to the appearance of physiocratic influence, it is Turgot's contribution to the movement of writing that...
Persistent link: https://www.econbiz.de/10013115537
An imperative need has arisen to provide a Constructive push to the President Bush. American population, Corporate units, Expatriates and all nations with their currency related to US $, are not happy in the current $ dipping situation. Even the currencies of poor nations are galloping upward in...
Persistent link: https://www.econbiz.de/10005556940
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This paper presents a simple classroom experiment that helps students make economic decisions about participation in the labour market. The students are designated as workers and are given information about their skill endowments, marginal productivities and opportunity costs. The lecturer, who...
Persistent link: https://www.econbiz.de/10014219765
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