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How to incentive Who? Intra-personal and inter-personal mechanisms

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  • V. Pelligra

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    Abstract

    The paper focuses on the working of incentives both in parametric and strategic situations. It challenges some of the basic assumptions of the traditional model of economic agent which is usually assumed as self-interested and consequentialist. Psychological researches have stressed the descriptive limitations of that model and pointed out the relevance of other behavioral principles. Intrinsic motivations, reciprocity and trust being the most prominent among them. The paper analyses two different kinds of incentive mechanisms, namely, intra-personal and inter-personal and presents the results of an experiment that emphasize the empirical relevance of the latter. Besides providing a more descriptively adequate picture of interactive agency, such mechanisms have important normative implications that are discussed in the closing section.

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    Bibliographic Info

    Paper provided by Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia in its series Working Paper CRENoS with number 200404.

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    Date of creation: 2004
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    Handle: RePEc:cns:cnscwp:200404

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    Related research

    Keywords: incentives; reciprocity; trust; crowding-out; institutional design;

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    1. Matthew Rabin., 1992. "Incorporating Fairness into Game Theory and Economics," Economics Working Papers, University of California at Berkeley 92-199, University of California at Berkeley.
    2. Fehr, Ernst & Falk, Armin, 2002. "Psychological foundations of incentives," European Economic Review, Elsevier, Elsevier, vol. 46(4-5), pages 687-724, May.
    3. Nelson, William Jr., 2002. "Equity or intention: it is the thought that counts," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 48(4), pages 423-430, August.
    4. Ernst Fehr & John A. List, 2004. "THE HIDDEN COSTS AND RETURNS OF INCENTIVES — TRUST AND TRUSTWORTHINESS AMONG CEOs," Labor and Demography, EconWPA 0409012, EconWPA.
    5. Gneezy, Uri & Rustichini, Aldo, 2000. "A Fine is a Price," The Journal of Legal Studies, University of Chicago Press, University of Chicago Press, vol. 29(1), pages 1-17, January.
    6. Geanakoplos, John & Pearce, David & Stacchetti, Ennio, 1989. "Psychological games and sequential rationality," Games and Economic Behavior, Elsevier, Elsevier, vol. 1(1), pages 60-79, March.
    7. Herbert A. Simon, 1991. "Organizations and Markets," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 5(2), pages 25-44, Spring.
    8. Barkema, Harry G, 1995. "Do Top Managers Work Harder When They Are Monitored?," Kyklos, Wiley Blackwell, Wiley Blackwell, vol. 48(1), pages 19-42.
    9. Sen, Amartya K, 1980. "Description as Choice," Oxford Economic Papers, Oxford University Press, vol. 32(3), pages 353-69, November.
    10. Frey, Bruno S & Oberholzer-Gee, Felix, 1997. "The Cost of Price Incentives: An Empirical Analysis of Motivation Crowding-Out," American Economic Review, American Economic Association, American Economic Association, vol. 87(4), pages 746-55, September.
    11. Bruno S. Frey & Iris Bohnet, 1999. "Social Distance and Other-Regarding Behavior in Dictator Games: Comment," American Economic Review, American Economic Association, American Economic Association, vol. 89(1), pages 335-339, March.
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