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Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn >
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http://hdl.handle.net/10419/22853
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| Title: | | Envy and Compassion in Tournaments  |
| Authors: | | Grund, Christian Sliwka, Dirk |
| Issue Date: | | 2002 |
| Series/Report no.: | | Bonn econ discussion papers 2002,32 |
| Abstract: | | Many experiments indicate that most individuals are not purely motivated by material self interest, but also care about the well being of others. In this paper we examine tournaments among inequity averse agents, who dislike disadvantageous inequity (envy) and advantageous inequity (compassion). It turns out that inequity averse agents exert higher effort levels than purely self-interested agents for a given prize structure. Contrary to standard tournament theory first-best efforts can not be implemented when prizes are endogenous. Several extensions are studied like the case of spiteful agents, sabotage, asymmetric agents and an application on the choice between vertical and lateral promotions within firms. |
| Subjects: | | Tournaments Promotions Inequity Aversion |
| JEL: | | M51 D63 D23 M52 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn
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