A/B Contracts

IF 10.5 1区 经济学 Q1 ECONOMICS American Economic Review Pub Date : 2022-01-01 DOI:10.1257/aer.20200732
G. Georgiadis, M. Powell
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引用次数: 3

Abstract

This paper aims to improve the practical applicability of the classic theory of incentive contracts under moral hazard. We establish conditions under which the information provided by an A/B test of incentive contracts is sufficient for answering the question of how best to improve a status quo incentive contract, given a priori knowledge of the agent’s monetary preferences. We assess the empirical relevance of this result using data from DellaVigna and Pope’s (2018) study of a variety of incentive contracts. Finally, we discuss how our framework can be extended to incorporate additional considerations beyond those in the classic theory. (JEL D82, D86, D91)
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A / B合同
本文旨在提高道德风险下激励契约经典理论的实际适用性。我们建立了一个条件,在这个条件下,激励合同的A/B测试提供的信息足以回答如何最好地改善现状激励合同的问题,给定了代理人的货币偏好的先验知识。我们使用delavigna和Pope(2018)对各种激励合同的研究数据来评估这一结果的实证相关性。最后,我们讨论了如何扩展我们的框架,以纳入经典理论之外的其他考虑因素。(凝胶d82, d86, d91)
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来源期刊
CiteScore
18.60
自引率
2.80%
发文量
122
期刊介绍: The American Economic Review (AER) stands as a prestigious general-interest economics journal. Founded in 1911, it holds the distinction of being one of the nation's oldest and most esteemed scholarly journals in economics. With a commitment to academic excellence, the AER releases 12 issues annually, featuring articles that span a wide spectrum of economic topics.
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