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The Composition of Compensation Policy: From Cash to Fringe Benefits

  • 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)

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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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
Note: View the original document on HAL open archive server: http://hal.archives-ouvertes.fr/hal-00243030/en/
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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. Kreps, David M, 1997. "Intrinsic Motivation and Extrinsic Incentives," American Economic Review, American Economic Association, vol. 87(2), pages 359-64, May.
  3. Raghuram Rajan & Julie Wulf, 2004. "Are Perks Purely Managerial Excess?," NBER Working Papers 10494, National Bureau of Economic Research, Inc.
  4. 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.
  5. 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.
  6. 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.
  7. 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).
  8. 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.
  9. 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.
  10. Hashimoto, Masanori & Zhao, Jingang, 2000. "The labor market effects of non-wage compensations," Labour Economics, Elsevier, vol. 7(1), pages 55-78, January.
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