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Games of Status and Discrininatory Contract

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Author Info
Dhillon, Amrita (Department of Economics, University of Warwick)
Herzog-Stein, Alexander (Department of Economics, University of Warwick)

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Abstract

Following recent empirical evidence which indicates the importance of rank for the determination of workers’ wellbeing, this paper introduces status seeking preferences in the form of rank-dependent utility functions into a moral hazard framework with one firm and multiple workers, but no correlation in production. Workers’ concern for the rank of their wage in the firm’s wage distribution may induce the firm to offer discriminatory wage contracts when its aim is to induce all workers to expend effort.

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File URL: http://www2.warwick.ac.uk/fac/soc/economics/research/workingpapers/publications/2006/twerp_759.pdf
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Paper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 759.

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Length: 46 pages
Date of creation: 2006
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Handle: RePEc:wrk:warwec:759

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  1. Ed Hopkins & Tatiana Kornienko, 2007. "Status, Affluence, and Inequality: Rank-Based Comparisons in Games of Status," Levine's Bibliography 122247000000001442, UCLA Department of Economics. [Downloadable!]
  2. Ramalingam, Abhijit, 2009. ""Endogenous" Relative Concerns: The Impact of Workers' Characteristics on Status and Pro ts in the Firm," MPRA Paper 18759, University Library of Munich, Germany. [Downloadable!]
  3. Ed Hopkins & Tatiana Kornienko, 2006. "Methods of Social Comparison in Games of Status," Levine's Bibliography 122247000000001183, UCLA Department of Economics. [Downloadable!]
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This page was last updated on 2009-12-18.

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