Negative relationship between risk and incentives, predicted by standard moral hazard models, has not been confirmed by empirical work. We propose a moral hazard model in which heterogeneous risk-averse agents can control ...

Organizations and policymakers increasingly rely on economic incentives to prompt participation in activities amongst those who were previously not engaged. We ran a field experiment with a recycling program to examine ...

The design of effective incentive schemes that are both successful in motivating employees and keeping down costs is of critical importance. Research has demonstrated that prosocial incentives, where individuals’ effort ...

© 2024 Elsevier B.V.I study the incentives to develop complementary technologies and include them in a technical standard. I find that the standardization process may lead to insufficient or excessive innovation. Patent ...

Standard models of moral hazard predict a negative relationship between risk and incentives, but the empirical work has not confirmed this prediction. In this paper, we propose a model with adverse selection followed by ...

In many large cities worldwide, private companies operate public transport systems under concession contracts granted by the local governments. The performance of these concessions, including the quality of service and ...