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An Experimental Investigation Of Alternative Incentive Schemes With Heterogeneous Agents

  • Wu, Steven Y.
  • Roe, Brian E.
  • Sporleder, Thomas L.
  • Nazaryan, Natalie

Experimental economics is used to compare tournaments (T) and fixed performance contracts (F) when agents have heterogeneous costs. Results suggest that: (1) There is no difference in average pooled effort across contracts, (2) high ability agents exert higher effort than low ability agents under both types of contracts, (3) average pooled earnings are affected by contract type, (4) high ability agents benefit from T whereas low ability agents are harmed by T, and (5) the difference in average pay between high and low ability agents is larger under T. Thus, T implement greater inequality.

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File URL: http://purl.umn.edu/28318
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Paper provided by Ohio State University, Department of Agricultural, Environmental and Development Economics in its series Working Papers with number 28318.

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Date of creation: 2005
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Handle: RePEc:ags:ohswps:28318
Contact details of provider: Postal: 2120 Fyffe Road, Columbus, Ohio 43210-1099
Web page: http://www-agecon.ag.ohio-state.edu/

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  1. Bull, Clive & Schotter, Andrew & Weigelt, Keith, 1987. "Asymmetric Tournaments, Equal Opportunity Laws and Affirmative Action: Some Experimental Results," Working Papers 87-33, C.V. Starr Center for Applied Economics, New York University.
  2. Charles N. Noussair & Charles R. Plott & Raymond G. Riezman, 2013. "An Experimental Investigation of the Patterns of International Trade," World Scientific Book Chapters, in: International Trade Agreements and Political Economy, chapter 17, pages 299-328 World Scientific Publishing Co. Pte. Ltd..
  3. Christian Gollier, 2004. "The Economics of Risk and Time," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262572249, June.
  4. Bull, Clive & Schotter, Andrew & Weigelt, Keith, 1985. "Tournaments and Piece Rates: An Experimental Study," Working Papers 85-21, C.V. Starr Center for Applied Economics, New York University.
  5. repec:cup:cbooks:9780521671248 is not listed on IDEAS
  6. Charles A. Holt & Susan K. Laury, 2002. "Risk Aversion and Incentive Effects," American Economic Review, American Economic Association, vol. 92(5), pages 1644-1655, December.
  7. Berg, Joyce E, et al, 1986. "Controlling Preferences for Lotteries on Units of Experimental Exchange," The Quarterly Journal of Economics, MIT Press, vol. 101(2), pages 281-306, May.
  8. Steven Wu & Brian Roe, 2005. "Behavioral and Welfare Effects of Tournaments and Fixed Performance Contracts: Some Experimental Evidence," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 87(1), pages 130-146.
  9. repec:cup:cbooks:9780521456821 is not listed on IDEAS
  10. repec:feb:artefa:0069 is not listed on IDEAS
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