Arbeitspapier
Deferred Compensation and Gift Exchange : An Experimental Investigation into Multi-Period Labor Markets
This paper examines the relationship between firms? wage offers and workers? supply of effort using a three-period experiment. In equilibrium, firms will offer deferred compensation: first period productivity is positive and wages are zero, while third period productivity is zero and wages are positive. The experiment produces strong evidence that deferred compensation increases worker effort; in about 70 percent of cases subjects supplied the optimal effort given the wage offer, and there was a strong effort response to future-period wages. We also find some evidence of gift exchange; worker players increased the effort levels in response to above equilibrium wage offers by a human, but not in response to similar offers by a computer. Finally, we find that firm players who are initially hesitant to defer compensation learn over time that it is beneficial to do so.
- Sprache
-
Englisch
- Erschienen in
-
Series: IZA Discussion Papers ; No. 1193
- Klassifikation
-
Wirtschaft
Personnel Economics: Firm Employment Decisions; Promotions
Labor Contracts
Wage Level and Structure; Wage Differentials
Design of Experiments: Laboratory, Individual
Personnel Economics: Compensation and Compensation Methods and Their Effects
- Thema
-
deferred compensation
pensions
experimental labor economics
personnel economics
gift exchange
incentives
shirking
Vergütungssystem
Betriebliche Altersversorgung
Betriebliche Sozialleistungen
Leistungsanreiz
Anreizvertrag
Spieltheorie
Experiment
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Wallace, Brian
Seltzer, Andrew J.
Huck, Steffen
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute for the Study of Labor (IZA)
- (wo)
-
Bonn
- (wann)
-
2004
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Wallace, Brian
- Seltzer, Andrew J.
- Huck, Steffen
- Institute for the Study of Labor (IZA)
Entstanden
- 2004
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