PRIZES VERSUS WAGES WITH ENVY AND PRIDE By
نویسندگان
چکیده
We show that if agents are risk neutral, prizes outperform wages if and only if there is su¢ cient 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 JEL Classi cation: C72, D01, D23, L14.
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