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Download or read book Inequity Aversion and Team Incentives written by and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Florian Englmaier
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (425 download)
Download or read book Optimal Incentive Contracts Under Inequity Aversion written by Florian Englmaier and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jenny Kragl
Publisher :
ISBN 13 :
Total Pages : 196 pages
Book Rating : 4.:/5 (68 download)
Download or read book The Impact of Inequity Aversion on Relational Incentive Contracts written by Jenny Kragl and published by . This book was released on 2009 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Dominique Demougin
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Inequity Aversion in Tournaments written by Dominique Demougin and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider the cost of providing incentives using tournaments when workers are inequity averse and performance evaluation is costly. The principal never benefits from empathy to align incentives in a moral hazard framework between the workers, but he may benefit from their propensity for envy depending on the costs of assessing performance. More envious employees are preferred when the costs are high, less envious ones when they are low.
Author : Sanjit Dhami
Publisher : Oxford University Press
ISBN 13 : 0192574647
Total Pages : 510 pages
Book Rating : 4.1/5 (925 download)
Download or read book The Foundations of Behavioral Economic Analysis written by Sanjit Dhami and published by Oxford University Press. This book was released on 2019-02-14 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt: Taken from the first definitive introduction to behavioral economics, The Foundations of Behavioral Economic Analysis: Other-Regarding Preferences is an authoritative and cutting edge guide to this essential topic for advanced undergraduate and postgraduate students. It considers the evidence from experimental games on human sociality, and gives models and applications of inequity aversion, intention based reciprocity, conditional cooperation, human virtues, and social identity. This updated extract from Dhami's leading textbook allows the reader to pursue subsections of this vast and rapidly growing field and to tailor their reading to their specific interests in behavioural economics.
Author : Ying Yang
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (14 download)
Download or read book Unfairness in Sales Teams written by Ying Yang and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Unfairness in sales force compensation is a very challenging problem in global sales organizations. Sales executives find a growing number of complaints of unfair compensation from field salespeople. While some salespeople think it is alright to get same compensation plan as someone less competent, others might think it is totally unfair to them. When salespeople perceive they are not compensated fairly, they become less motivated, get slack, destroy morale, kill teamwork, or even worse, quit. How do feelings of unfairness about the compensation system affect salespeople’s decisions and firm’s profit? I endeavor to solve this challenging managerial problem of unfairness in the team-based compensation. I first built up a principle-agent model for a sales team of two salespeople, who have different roles and responsibilities and different preferences for inequity. I then use laboratory experiments to test the theory predictions and estimate inequity aversion of salespeople in a sales team. In particular, Essay 1 builds an analytical model of sales team to tackle the managerial problem of motivating team-selling salespeople effectively when team-based rewards engender a sense of unfairness. By introducing inequity aversion into standard principal-agent analytic models of sales team, I have obtained the equilibrium effort decisions for both the manager and the salesperson in a sales team. When the sales manager has to do both selling and coaching and the salesperson only has to sell, their effort decisions depend on not only their own commission rates but also their team member’s. In addition, their inequity aversion with respect to commission rate difference will reduce their effort levels and firm’s profit. If the firm realizes the inequity aversion of these salespeople, equal commission rates will be offered to mitigate the impacts of inequity aversion. Surprisingly, I found that, in some circumstance, the more inequity averse the sales manager is, the more help is he willing to give to the salesperson who is earning higher commission rate than him. However, this surprising result vanishes with homogeneous commission rates. Essay 2 tests whether the manager and the salesperson conforms to the theory in their effort decisions in a laboratory experiment. I conducted 2x2 between-subject experiments with two levels of commission rates and salaries for the manager while those of the salesperson are held as constant. By manipulating inequity, I am able to empirically estimate both disadvantageous inequity aversion, envy, by the manager and advantageous inequity aversion, guilt, by the salesperson. I have found the manager has envy for commission rate but not so much for the salary. In comparison, the salesperson does not feel guilty regarding to their higher commission rates and/or higher salaries. Although they do not share a common belief in each other’s inequity aversion, their decisions of efforts and switching to another pay reflects their preferences to other person’s commission rate but not salary.
Author :
Publisher : Fundacion BBVA
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4./5 ( download)
Download or read book Aversion to Inequality and Segregating Equilibria written by and published by Fundacion BBVA. This book was released on 2007 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sanjit S. Dhami
Publisher : Oxford University Press
ISBN 13 : 0198715528
Total Pages : 1799 pages
Book Rating : 4.1/5 (987 download)
Download or read book The Foundations of Behavioral Economic Analysis written by Sanjit S. Dhami and published by Oxford University Press. This book was released on 2016 with total page 1799 pages. Available in PDF, EPUB and Kindle. Book excerpt: It considers the evidence against the exponential discounted utility model and describes several behavioral models such as hyperbolic discounting, attribute based models and the reference time theory. Part IV describes the evidence on classical game theory and considers several models of behavioral game theory, including level-k and cognitive hierarchy models, quantal response equilibrium, and psychological game theory. Part V considers behavioral models of learning that include evolutionary game theory, classical models of learning, experience weighted attraction model, learning direction theory, and stochastic social dynamics. Part VI studies the role of emotions; among other topics it considers projection bias, temptation preferences, happiness economics, and interaction between emotions and cognition. Part VII considers bounded rationality. The three main topics considered are judgment heuristics and biases, mental accounting, and behavioral finance.
Author : David Gill
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (794 download)
Download or read book Desert and Inequity Aversion in Teams written by David Gill and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yihang Li
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (111 download)
Download or read book Relational Team Contract and Inequity Aversion written by Yihang Li and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Shinsuke Ikeda
Publisher : Springer
ISBN 13 : 4431555013
Total Pages : 668 pages
Book Rating : 4.4/5 (315 download)
Download or read book Behavioral Interactions, Markets, and Economic Dynamics written by Shinsuke Ikeda and published by Springer. This book was released on 2015-09-12 with total page 668 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects important contributions in behavioral economics and related topics, mainly by Japanese researchers, to provide new perspectives for the future development of economics and behavioral economics. The volume focuses especially on economic studies that examine interactions of multiple agents and/or market phenomena by using behavioral economics models. Reflecting the diverse fields of the editors, the book captures broad influences of behavioral economics on various topics in economics. Those subjects include parental altruism, economic growth and development, the relative and permanent income hypotheses, wealth distribution, asset price bubbles, auctions, search, contracts, personnel management and market efficiency and anomalies in financial markets. The chapter authors have added newly written addenda to the original articles in which they address their own subsequent works, supplementary analyses, detailed information on the underlying data and/or recent literature surveys. This will help readers to further understand recent developments in behavioral economics and related research.
Author : B. Agarwal
Publisher : Springer
ISBN 13 : 0230522343
Total Pages : 281 pages
Book Rating : 4.2/5 (35 download)
Download or read book Psychology, Rationality and Economic Behaviour written by B. Agarwal and published by Springer. This book was released on 2005-08-03 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics has paid little attention to the psychology of economic behaviour, leading to somewhat simplistic assumptions about human nature. The psychological aspects have typically been reduced to standard utility theory, based on a narrow conception of rationality and self-interest maximization. The contributions in this volume, some focused on analytical models and methodology, others on laboratory and field experiments, challenge these assumptions, and provide novel and complex understandings of human motivation and economic decision-making. With a pioneering introduction by the book's two editors, this volume brings together exciting contributions to a field that is rapidly growing in influence and reach.
Author : Felix Kölle
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (11 download)
Download or read book Inequality, Inequity Aversion, and the Provision of Public Goods written by Felix Kölle and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We investigate the effects of inequality in wealth on the incentives to contribute to a public good when agents are inequity averse and may differ in ability. We show that equality may lead to a reduction of public good provision below levels generated by purely selfish agents. But introducing inequality motivates more productive agents to exert higher efforts and help the group to coordinate on equilibria with less free-riding. As a result, less able agents may benefit from initially disadvantageous inequality. Moreover, the more inequity averse the agents, the more inequality should be imposed even by an egalitarian social planner.
Author : Sabrina Teyssier
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Optimal Group Incentives with Social Preferences and Self-Selection written by Sabrina Teyssier and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we analyze group incentives when a proportion of agents feel in- equity aversion as defined by Fehr and Schmidt (1999). We define a separating equilibrium that explains the co-existence of multiple payment schemes in firms. We show that a tournament provides strong incentives to agents who only care about their own payoff but that it is not efficient when agents are inequity averse. In fact, inequity averse agents are attracted by a revenue-sharing scheme in which the joint production is equally distributed, under the constraint that selfish agents have no incentive to join the revenue sharing organization. If the market is perfectly flexible, this separating equilibrium induces a high effort level for both types of agents. Pareto gains are achieved by offering organizational choice to agents and the optimal contract is thus to propose both payment schemes to agents and to allow them to self-select into the different payment schemes.
Author : Luis C. Corchón
Publisher : Edward Elgar Publishing
ISBN 13 : 178536328X
Total Pages : 567 pages
Book Rating : 4.7/5 (853 download)
Download or read book Handbook of Game Theory and Industrial Organization, Volume I written by Luis C. Corchón and published by Edward Elgar Publishing. This book was released on 2018-02-23 with total page 567 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first volume of this wide-ranging Handbook contains original contributions by world-class specialists. It provides up-to-date surveys of the main game-theoretic tools commonly used to model industrial organization topics. The Handbook covers numerous subjects in detail including, among others, the tools of lattice programming, supermodular and aggregative games, monopolistic competition, horizontal and vertically differentiated good models, dynamic and Stackelberg games, entry games, evolutionary games with adaptive players, asymmetric information, moral hazard, learning and information sharing models.
Author : David Mueller
Publisher : Springer
ISBN 13 : 331961603X
Total Pages : 453 pages
Book Rating : 4.3/5 (196 download)
Download or read book Game Theory in Management Accounting written by David Mueller and published by Springer. This book was released on 2017-09-21 with total page 453 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book demonstrates what kind of problems, originating in a management accounting setting, may be solved with game theoretic models. Game theory has experienced growing interest and numerous applications in the field of management accounting. The main focus traditionally has been on the field of non-cooperative behaviour, but the area of cooperative game theory has developed rapidly and has received increasing attention. Intensive research, in combination with the changing culture of publishing, has produced a nearly unmanageable number of publications in the areas concerned. Therefore, one main purpose of this volume is providing an intensive analysis of the intersection of these areas. In addition, the book strengthens the relationship between the theory and the practical applications and it illustrates the two-sided relationship between game theory and management accounting: new game theoretic models offer new fields of applications and these applications raise new questions for the theory.
Author : A. Pepper
Publisher : Springer
ISBN 13 : 1137409258
Total Pages : 192 pages
Book Rating : 4.1/5 (374 download)
Download or read book The Economic Psychology of Incentives written by A. Pepper and published by Springer. This book was released on 2015-07-07 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book proposes a revised theory of agency, drawing on ideas from behavioural economics and built on more robust assumptions about human behaviour than the standard principal-agent model. The book proposes new design principles for executive pay, but also explains the difficulties in changing current executive pay practices.
