Prizes versus Wages with Envy and Pride

Pradeep Dubey, John Geanakoplos () and Ori Haimanko ()
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John Geanakoplos: Cowles Foundation, Yale University, https://economics.yale.edu/people/faculty/john-geanakoplos

No 1537, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: We show that if agents are risk neutral, prizes outperform wages when 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).

Keywords: Envy; Pride; Wages; Prizes; Bonus (search for similar items in EconPapers)
JEL-codes: C72 D01 D23 L14 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2005-10
New Economics Papers: this item is included in nep-gth
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Citations: View citations in EconPapers (2)

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Related works:
Journal Article: PRIZES VERSUS WAGES WITH ENVY AND PRIDE (2013)
Working Paper: Prizes Versus Wages with Envy and Pride (2012)
Working Paper: Prizes versus Wages with Envy and Pride (2011)
Working Paper: Prizes versus Wages with Envy and Pride (2011)
Working Paper: Prizes versus Wages with Envy and Pride (2005)
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