Goal-oriented agents in a market

Ines Macho-Stadler, David Perez-Castrillo and Nicolas Querou

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Abstract: We consider a market where "standard" risk-neutral agents coexist with "goaloriented" agents who, in addition to the expected income, seek a high-enough monetary payoff (the "trigger") to fulfill a goal. We analyze a two-sided one-to-one matching model where the matching between principals and agents and incentive contracts are endogenous. In any equilibrium contract, goal-oriented agents are matched with the principals with best projects and receive the trigger with positive probability. Moreover, goal and monetary incentives are complementary: goaloriented agents receive stronger monetary incentives. Finally, we discuss policy interventions in relevant environments.

Keywords: Goal-oriented agents; incentives; matching market (search for similar items in EconPapers)
Date: 2021-06
New Economics Papers: this item is included in nep-cta, nep-des and nep-mic
Note: View the original document on HAL open archive server: https://hal.inrae.fr/hal-03214933
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Citations: View citations in EconPapers (2)

Published in Journal of Economic Psychology, 2021, 84, pp.102378. ⟨10.1016/j.joep.2021.102378⟩

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Related works:
Journal Article: Goal-oriented agents in a market (2021)
Working Paper: Goal-Oriented Agents in a Market (2020)
Working Paper: Goal-oriented agents in a market (2020)
Working Paper: Goal-oriented agents in a market (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03214933

DOI: 10.1016/j.joep.2021.102378

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