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Efficient Inequity–Averse Teams

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Author Info
Jianpei Li
Abstract

This paper analyzes the efficiency of team production when agents exhibit other regarding preferences. It is shown that full efficiency can be sustained as an equilibrium through a budget-balancing mechanism that punishes some randomly chosen agents if output falls short of efficient level but distributes the output equally otherwise, provided that the agents are sufficiently inequity averse.

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File URL: http://www.sfbtr15.de/dipa/210.pdf
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Publisher Info
Paper provided by SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich in its series Discussion Papers with number 210.

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Date of creation: May 2007
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Handle: RePEc:trf:wpaper:210

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Related research
Keywords: moral hazard team production inequity aversion

Find related papers by JEL classification:
C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
D7 - Microeconomics - - Analysis of Collective Decision-Making
D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior

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This page was last updated on 2008-7-22.

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