Arbeitspapier
Monetary and Social Incentives in Multi-Tasking: The Ranking Substitution Effect
Rankings are prevalent information and incentive tools in labor markets with strong competition for talent. In a dynamic model of multi-tasking and an accompanying experiment with financial professionals, we identify hidden ranking costs when performance in one task is incentivized and ranked while another prosocial task is not: (i) a ranking influences behavior if individuals lag behind: they spend more total effort and substitute effort in the prosocial task with effort in the ranked task; (ii) those ahead in the ranking spend less total effort and lower relative effort in the ranked task. Implications for incentive schemes are discussed.
- Language
- 
                Englisch
 
- Bibliographic citation
- 
                Series: IZA Discussion Papers ; No. 13345
 
- Classification
- 
                Wirtschaft
 Field Experiments
 Institutions: Design, Formation, Operations, and Impact
 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
 
- Subject
- 
                multi-tasking decision problem
 rank incentives
 framed field experiment
 finance professionals
 
- Event
- 
                Geistige Schöpfung
 
- (who)
- 
                Stefan, Matthias
 Huber, Jürgen
 Kirchler, Michael
 Sutter, Matthias
 Walzl, Markus
 
- Event
- 
                Veröffentlichung
 
- (who)
- 
                Institute of Labor Economics (IZA)
 
- (where)
- 
                Bonn
 
- (when)
- 
                2020
 
- Handle
- Last update
- 
                
                    
                        10.03.2025, 11:43 AM CET
Data provider
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Object type
- Arbeitspapier
Associated
- Stefan, Matthias
- Huber, Jürgen
- Kirchler, Michael
- Sutter, Matthias
- Walzl, Markus
- Institute of Labor Economics (IZA)
Time of origin
- 2020
 
        
    