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Cardiovascular Consequences of Unfair Pay
Falk, Armin; Menrath, Ingo; Siegrist, Johannes; Verde, … - C.E.P.R. Discussion Papers - 2011
This paper investigates physiological responses to perceptions of unfair pay. In a simple principal agent experiment agents produce revenue by working on a tedious task. Principals decide how this revenue is allocated between themselves and their agents. In this environment unfairness can arise...
Persistent link: https://www.econbiz.de/10009144731
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Preferences for Consistency
Falk, Armin; Zimmermann, Florian - C.E.P.R. Discussion Papers - 2011
strength. We then present three experiments that study main predictions and implications of the model. The first is a simple …
Persistent link: https://www.econbiz.de/10009293989
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The Role of Salience in Performance Schemes: Evidence from a Field Experiment
Englmaier, Florian; Roider, Andreas; Sunde, Uwe - C.E.P.R. Discussion Papers - 2012
Incentive schemes affect performance and priorities of agents but, in reality, they can be complicated even for simple tasks. We analyze the effects of the salience of incentives in a team production setting where the principal has an interest in quantity and quality of output. We use data from...
Persistent link: https://www.econbiz.de/10011084038
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A Flexible Test for Present Bias and Time Preferences using Land-Lease Contracts
Gautier, Pieter A; van Vuuren, Aico - C.E.P.R. Discussion Papers - 2011
When agents have present bias, they discount more between now and the next period than between period t ( 1) and t + 1. How fast the future discount rate (evaluated today) decays is an empirical question. We show that the discount function can be non-parametrically identified with contracts that...
Persistent link: https://www.econbiz.de/10009251301
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Risk Aversion in a Dynamic Asset Allocation Experiment
Brocas, Isabelle; Carrillo, Juan D; Giga, Aleksandar; … - C.E.P.R. Discussion Papers - 2015
We conduct a controlled laboratory experiment where subjects dynamically choose their portfolio allocation between a safe and a risky asset. We first derive analytically the optimal allocation of an expected utility maximizer with HARA utility function. We then fit the experimental choices to...
Persistent link: https://www.econbiz.de/10011145479
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Organizations, Diffused Pivotality and Immoral Outcomes
Falk, Armin; Szech, Nora - C.E.P.R. Discussion Papers - 2013
This paper studies how organizational design affects moral outcomes. Subjects face the decision to either kill mice for money or to save mice. We compare a Baseline treatment where subjects are fully pivotal to a Diffused-Pivotality treatment where subjects simultaneously choose in groups of...
Persistent link: https://www.econbiz.de/10011084048
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Paying for Confidence: An Experimental Study of the Demand for Non-Instrumental Information
Eliaz, Kfir; Schotter, Andrew - C.E.P.R. Discussion Papers - 2009
This paper presents experimental evidence that when individuals are about to make a given decision under risk, they are willing to pay for information on the likelihood that this decision is ex-post optimal, even if this information will not affect their decision. Our findings suggest that this...
Persistent link: https://www.econbiz.de/10004976787
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On the origins of gender roles: women and the plough
Alesina, Alberto F; Giuliano, Paola; Nunn, Nathan - C.E.P.R. Discussion Papers - 2011
This paper seeks to better understand the historical origins of current differences in norms and beliefs about the …
Persistent link: https://www.econbiz.de/10009371474
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Rational Inattention and Organizational Focus
Dessein, Wouter; Galeotti, Andrea; Santos, Tano - C.E.P.R. Discussion Papers - 2013
We examine the allocation of scarce attention in team production. Each team member is in charge of a specialized task … attention to each other, but attention is in limited supply. We show that when attention is scarce, organizational focus and … attention is evenly allocated to a select number of "leaders." The organization then excels in a small number of focal tasks at …
Persistent link: https://www.econbiz.de/10011084079
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Auctions vs. Negotiations: The Effects of Inefficient Renegotiation
Herweg, Fabian; Schmidt, Klaus M. - C.E.P.R. Discussion Papers - 2014
For the procurement of complex goods the early exchange of information is important to avoid costly renegotiation ex post. We show that this is achieved by bilateral negotiations but not by auctions. Negotiations strictly outperforms auctions if sellers are likely to have superior information...
Persistent link: https://www.econbiz.de/10011096108