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| Titel: |
The Monotonicity Puzzle: An Experimental Investigation of Incentive Structures |
| Auteur: |
Jeannette Brosig Christian Lukas Thomas Riechmann |
| Verschenen in: |
Business research |
| Paginering: | Jaargang 3 (2010) nr. 1 pagina's 8-35 |
| Jaar: |
2010 |
| Inhoud: |
Non-monotone incentive structures, which - according to theory - are able to induce optimal behavior, are often regarded as empirically less relevant for labor relationships. We compare the performance of a theoretically optimal non-monotone contract with a monotone one under controlled laboratory conditions. Implementing some features relevant to real-world employment relationships, our paper demonstrates that, in fact, the frequency of income-maximizing decisions made by agents is higher under the monotone contract. Although this observed behavior does not change the superiority of the non-monotone contract for principals, they do not choose this contract type in a significant way. This is what we call the monotonicity puzzle. Detailed investigations of decisions provide a clue for solving the puzzle and a possible explanation for the popularity of monotone contracts. |
| Uitgever: |
Verband der Hochschullehrer für Betriebswirtschaft e.V. (provided by DOAJ) |
| Bronbestand: |
Elektronische Wetenschappelijke Tijdschriften |
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