Prizes versus wages with envy and pride

Pradeep Dubey; John Geanakoplos; Ori Haimanko

doi:10.1111/j.1468-5876.2012.00564.x

Prizes versus wages with envy and pride

Pradeep Dubey
, John Geanakoplos
, Ori Haimanko

Economics

Yale University
Ben-Gurion University of the Negev

Research output: Contribution to journal › Article › peer-review

3 Scopus citations

Abstract

We show that if agents are risk-neutral, prizes outperform wages if and only if there is sufficient pride and envy relative to the noisiness of performance. If agents are risk-averse, prizes are a necessary supplement to wages (as bonuses).

Original language	English
Pages (from-to)	98-121
Number of pages	24
Journal	Japanese Economic Review
Volume	64
Issue number	1
DOIs	https://doi.org/10.1111/j.1468-5876.2012.00564.x
State	Published - Mar 2013

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Prizes versus wages with envy and pride

Abstract

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