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The Composition of Compensation Policy: From Cash to Fringe Benefits

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  • Patricia Crifo

    (CECO - Laboratoire d'econometrie de l'école polytechnique - CNRS : UMR7657 - Polytechnique - X)

  • Marc-Arthur Diaye

    (Centre d'Etude de l'Emploi - Université d'Evry)

Abstract

Cet article développe un modèle principal-agent pour analyser la composition optimale des politiques de rémunérations en présence d'incitations monétaires et non monétaires. On caractérise les bénéfices non monétaires comme des symboles pour capturer un ensemble large de compensations non monétaires telles que les avantages en natures, le statut, l'identité ou même les sanctions. Nous montrons que lorsque les préférence des agents sont de connaissance commune les incitaions non monétaires sont toujours plus efficaces que les incitations monétaires. Nous caractérisons également la compostion optimale du schéma de rémunération lorsque le principal ne connaît qu'imparfaitement les préférences des agents. En particulier, nous montrons que des avantages en nature fixes combinés à un salaire variable sont plus rentables pour le principal dans ce contexte.

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Bibliographic Info

Paper provided by HAL in its series Working Papers with number hal-00243030.

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Date of creation: 2005
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Handle: RePEc:hal:wpaper:hal-00243030

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  1. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
  2. Dana P. Goldman & Neeraj Sood & Arleen Leibowitz, 2003. "The Reallocation of Compensation in Response to Health Insurance Premium Increases," NBER Working Papers 9540, National Bureau of Economic Research, Inc.
  3. Fehr, Ernst & Gachter, Simon, 1998. "Reciprocity and economics: The economic implications of Homo Reciprocans1," European Economic Review, Elsevier, vol. 42(3-5), pages 845-859, May.
  4. Hashimoto, Masanori & Zhao, Jingang, 2000. "The labor market effects of non-wage compensations," Labour Economics, Elsevier, vol. 7(1), pages 55-78, January.
  5. Kreps, David M, 1997. "Intrinsic Motivation and Extrinsic Incentives," American Economic Review, American Economic Association, vol. 87(2), pages 359-64, May.
  6. Huck, Steffen & Kübler, Dorothea & Weibull, Jörgen W., 2010. "Social Norms and Economic Incentives in Firms," IZA Discussion Papers 5264, Institute for the Study of Labor (IZA).
  7. Royalty, Anne Beeson, 2000. "Tax preferences for fringe benefits and workers' eligibility for employer health insurance," Journal of Public Economics, Elsevier, vol. 75(2), pages 209-227, February.
  8. Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard H, 1990. "Experimental Tests of the Endowment Effect and the Coase Theorem," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1325-48, December.
  9. Rajan, Raghuram G. & Wulf, Julie, 2006. "Are perks purely managerial excess?," Journal of Financial Economics, Elsevier, vol. 79(1), pages 1-33, January.
  10. George A. Akerlof & Rachel E. Kranton, 2005. "Identity and the Economics of Organizations," Journal of Economic Perspectives, American Economic Association, vol. 19(1), pages 9-32, Winter.
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Cited by:
  1. Grolleau, Gilles & Mzoughi, Naoufel & Pekovic, Sanja, 2012. "Green not (only) for profit: An empirical examination of the effect of environmental-related standards on employees’ recruitment," Resource and Energy Economics, Elsevier, vol. 34(1), pages 74-92.

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