During the last two decades economists have made much progress in understanding incentives, contracts and organizations. Yet, they constrained their attention to a very narrow and empirically questionable view of human motivation. The purpose of this paper is to show that this narrow view of human motivation may severely limit understanding the determinants and e0ects of incentives. Economists ...

Despite the importance of evaluating all mitigation options to inform policy decisions addressing climate change, a comprehensive analysis household-scale interventions and their emissions reduction potential is missing. Here, we address this gap for aimed at changing individual households’ use existing equipment, such as monetary incentives or feedback. We have performed machine learning-assis...

We examine the dissent voting record of the Bank of England Monetary Policy Committee (MPC). Contrary to findings in the FOMC literature (for example Havrilesky and Schweitzer, 1990; Chappell, Havrilesky, and McGregor, 1993), the effects of members’ career backgrounds and the political channel of appointment on voting behavior are negligible, reflecting the distinct institutional constraints an...

BACKGROUND A vast body of social and cognitive psychology studies in humans reports evidence that external rewards, typically monetary ones, undermine intrinsic motivation. These findings challenge the standard selfish-rationality assumption at the core of economic reasoning. In the present work we aimed at investigating whether the different modulation of a given monetary reward automatically ...

Germany is one of few countries in which the monetary compensation for inventors is not only determined by negotiations between employer and employee inventor, but also by relatively precise legal provisions.. In this paper, we discuss the characteristics of the German Employees’ Invention Act (GEIA) and discuss which incentives or disincentives it creates. We rely on qualitative evidence from ...

The gains from international monetary policy cooperation are sizeable when the crossborder spillovers of shocks are significant and policymakers face a strong incentive to use monetary policy to insulate their country from these spillovers. We show that financial market arrangements play an integral role in determining these incentives. In a quantitative two-countries, two-goods model with stic...

Germany is one of few countries in which the monetary compensation for inventors is not only determined by negotiations between employer and employee-inventor, but also by relatively precise legal provisions. In this paper, we describe the characteristics of the German Employees’ Inventions Act (GEIA) and discuss which incentives it creates. We rely on responses from a recent survey of 3,350 Ge...

To motivate their consumers or employees, corporations often offer monetary incentives, such as cash-back deals or salary bonuses. However, human behavior is not solely driven by material outcome; fairness and equity matter as well. In a recent neuroimaging study, fair offers led to higher happiness ratings and increased activity in several reward regions of the brain compared with unfair offer...

this paper tests the importance of real shocks as sources of fluctuations in iran’s economy. for this purpose, based on the work of boschen and mills, a set of non-monetary variables which can affect economic growth have been selected and by using an illustrative business cycle model in which the production depends on the past and current value of real shocks, the influence 01’ these variables ...