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An Experimental Investigation Of Alternative Incentive Schemes With Heterogeneous Agents

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Author Info
Wu, Steven
Roe, Brian
Sporleder, Tom
Nazaryan, Natalie
Abstract

Experimental economics is used to compare tournaments (T) and fixed performance contracts (F) when agents have heterogeneous costs. Results suggest that: (1) There is no difference in average pooled effort across contracts, (2) high ability agents exert higher effort than low ability agents under both types of contracts, (3) average pooled earnings are affected by contract type, (4) high ability agents benefit from T whereas low ability agents are harmed by T, and (5) the difference in average pay between high and low ability agents is larger under T. Thus, T implement greater inequality.

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Paper provided by Ohio State University, Department of Agricultural, Environmental and Development Economics in its series Working Papers with number 28318.

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Date of creation: 2005
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Handle: RePEc:ags:ohswps:28318

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Keywords: Research Methods/ Statistical Methods;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Bull, Clive & Schotter, Andrew & Weigelt, Keith, 1987. "Tournaments and Piece Rates: An Experimental Study," Journal of Political Economy, University of Chicago Press, vol. 95(1), pages 1-33, February. [Downloadable!] (restricted)
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  2. Christian Gollier, 2004. "The Economics of Risk and Time," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262572249, December.
  3. Noussair, Charles & Plott, Charles & Riezman, Raymond., . "An Experimental Investigation of the Patterns of International Trade," Working Papers 799, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
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  4. Charles A. Holt & Susan K. Laury, 2002. "Risk Aversion and Incentive Effects," American Economic Review, American Economic Association, vol. 92(5), pages 1644-1655, December. [Downloadable!]
  5. Jayson L. Lusk & Ty Feldkamp & Ted C. Schroeder, 2004. "Experimental Auction Procedure: Impact on Valuation of Quality Differentiated Goods," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 86(2), pages 389-405, 05. [Downloadable!] (restricted)
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  6. Schotter, Andrew & Weigelt, Keith, 1992. "Asymmetric Tournaments, Equal Opportunity Laws, and Affirmative Action: Some Experimental Results," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 511-39, May. [Downloadable!] (restricted)
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  1. Wu, Steven & Roe, Brian, 2006. "AJAE Appendix: Tournaments, Fairness, and Risk," American Journal of Agricultural Economics Appendices, Agricultural and Applied Economics Association, vol. 88(3), August. [Downloadable!]
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