Status and incentives
This article introduces status as reflecting an agent's claim to recognition in her work. This is a scarce resource: increasing an agent's status requires that another agent's status be decreased. Higher-status agents are more willing to exert effort in exchange for money; better-paid agents would exert higher effort in exchange for improved status. The results are consistent with actual management practices: (i) egalitarianism is desirable in a static context; (ii) in a long-term work relationship, juniors' compensation is delayed; and (iii) past performance is rewarded by pay increases along with improved status within the organization's hierarchy. Copyright (c)2008, RAND.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 39 (2008)
Issue (Month): 1 ()
|Contact details of provider:|| Postal: |
Web page: http://www.blackwellpublishing.com/journal.asp?ref=0741-6261
More information through EDIRC
|Order Information:||Web: http://www.blackwellpublishing.com/journal.asp?ref=0741-6261|
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.:
- Weiss, Y. & Fershtman, C., 1997.
"Social Status and Economic Performance: A Survey,"
19-97, Tel Aviv.
- Yoram Weiss & Chaim Fershtman, 1997. "Social Status and Economic Performance: A Survey," University of Chicago - George G. Stigler Center for Study of Economy and State 139, Chicago - Center for Study of Economy and State.
- MALCOMSON,Â James M. & SPINNEWYN,Â Frans, .
"The multiperiod principal-agent problem,"
CORE Discussion Papers RP
803, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Robert H. Frank, 1984. "Interdependent Preferences and the Competitive Wage Structure," RAND Journal of Economics, The RAND Corporation, vol. 15(4), pages 510-520, Winter.
- Edward P. Lazear, 1991. "Labor Economics and the Psychology of Organizations," Journal of Economic Perspectives, American Economic Association, vol. 5(2), pages 89-110, Spring.
- Sheryl Ball & Catherine Eckel & Philip J. Grossman & William Zame, 2001. "Status In Markets," The Quarterly Journal of Economics, MIT Press, vol. 116(1), pages 161-188, February.
- Lazear, Edward P & Rosen, Sherwin, 1981.
"Rank-Order Tournaments as Optimum Labor Contracts,"
Journal of Political Economy,
University of Chicago Press, vol. 89(5), pages 841-64, October.
- Ghemawat, Pankaj, 1995. "Competitive Advantage and Internal Organization: Nucor Revisited," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 3(4), pages 685-717, Winter.
- Rajan, Raghuram G. & Wulf, Julie, 2006.
"Are perks purely managerial excess?,"
Journal of Financial Economics,
Elsevier, vol. 79(1), pages 1-33, January.
- Hashimoto, Masanori & Raisian, John, 1985. "Employment Tenure and Earnings Profiles in Japan and the United States," American Economic Review, American Economic Association, vol. 75(4), pages 721-35, September.
- Pradeep Dubey & John Geanakoplos, 2004. "Grading Exams: 100, 99, ..., 1 or A, B, C? Incentives in Games of Status," Cowles Foundation Discussion Papers 1467, Cowles Foundation for Research in Economics, Yale University.
- Fershtman, C. & Weiss, Y. & Hvide, H.K., 2001. "Status Concerns and the Organization of Work," Papers 2001-2, Tel Aviv.
- Andrew Postlewaite, .
""The Social Basis of Interdependent Preferences'',"
CARESS Working Papres
97-14, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
- Fershtman, Chaim & Weiss, Yoram, 1998.
"Social rewards, externalities and stable preferences,"
Journal of Public Economics,
Elsevier, vol. 70(1), pages 53-73, October.
- Fershtman, C. & Weiss, Y., 1996. "Social Rewards Externalities and Stable Preferences," Papers 17-96, Tel Aviv.
- Fershtman, C. & Weiss, Y., 1996. "Social Rewards, Externalities and Stable preferences," Discussion Paper 1996-28, Tilburg University, Center for Economic Research.
- Fershtman, C. & Weiss,Y., 1995. "Social Rewards, Externalities and Stable Preferences," Papers 32-95, Tel Aviv.
- Robert H. Topel & Michael P. Ward, 1988.
"Job Mobility and the Careers of Young Men,"
NBER Working Papers
2649, National Bureau of Economic Research, Inc.
- Lazear, Edward P, 1979. "Why Is There Mandatory Retirement?," Journal of Political Economy, University of Chicago Press, vol. 87(6), pages 1261-84, December.
- Rogerson, William P, 1985. "Repeated Moral Hazard," Econometrica, Econometric Society, vol. 53(1), pages 69-76, January.
- Gary S. Becker, 1962. "Investment in Human Capital: A Theoretical Analysis," Journal of Political Economy, University of Chicago Press, vol. 70, pages 9.
- G. S Becker & K. M Murphy & Ivan Werning, 2000. "Status, Lotteries, and Inequality," University of Chicago - George G. Stigler Center for Study of Economy and State 160, Chicago - Center for Study of Economy and State.
- Joanne Salop & Steve Salop, 1976. "Self-selection and turnover in the labor market," Special Studies Papers 80, Board of Governors of the Federal Reserve System (U.S.).
- Chiappori, Pierre-Andre & Macho, Ines & Rey, Patrick & Salanie, Bernard, 1994.
"Repeated moral hazard: The role of memory, commitment, and the access to credit markets,"
European Economic Review,
Elsevier, vol. 38(8), pages 1527-1553, October.
- Chiappori, P.A. & Macho, I. & Rey, p. & Salanie, B., 1994. "Repeated Moral Hazard: The Role of Memory, Commitment, and the Acces to Credit Markets," Papers 06, Laval - Laboratoire Econometrie.
- Chiappori, P.A. & Macho, I. & Rey, P. & Salanié, B., 1989. "Repeated Moral Hazard: The Role of Memory, Commitment, and the Access to Credit Markets," DELTA Working Papers 89-18, DELTA (Ecole normale supérieure).
- Raghuram Rajan & Julie Wulf, 2003.
"The Flattening Firm: Evidence from Panel Data on the Changing Nature of Corporate Hierarchies,"
NBER Working Papers
9633, National Bureau of Economic Research, Inc.
- Raghuram G. Rajan & Julie Wulf, 2006. "The Flattening Firm: Evidence from Panel Data on the Changing Nature of Corporate Hierarchies," The Review of Economics and Statistics, MIT Press, vol. 88(4), pages 759-773, November.
- John M. Abowd & John C. Haltiwanger & Julia I. Lane, 2004.
"Integrated Longitudinal Employee-Employer Data for the United States,"
Longitudinal Employer-Household Dynamics Technical Papers
2004-02, Center for Economic Studies, U.S. Census Bureau.
- John J. Abowd & John Haltiwanger & Julia Lane, 2004. "Integrated Longitudinal Employer-Employee Data for the United States," American Economic Review, American Economic Association, vol. 94(2), pages 224-229, May.
- Bauer, Thomas & Bender, Stefan, 2001. "Flexible Wages Systems and the Structure of Wages: Evidence from Matched Employer-Employee Data," CEPR Discussion Papers 2980, C.E.P.R. Discussion Papers.
- Salop, Joanne & Salop, Steven, 1976. "Self-Selection and Turnover in the Labor Market," The Quarterly Journal of Economics, MIT Press, vol. 90(4), pages 619-27, November.
When requesting a correction, please mention this item's handle: RePEc:bla:randje:v:39:y:2008:i:1:p:305-326. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.