The Resource Bonus culture : competitive pay, screening, and multitasking, Roland Bénabou, Jean Tirole, (electronic resource)

Bonus culture : competitive pay, screening, and multitasking, Roland Bénabou, Jean Tirole, (electronic resource)

Label
Bonus culture : competitive pay, screening, and multitasking
Title
Bonus culture
Title remainder
competitive pay, screening, and multitasking
Statement of responsibility
Roland Bénabou, Jean Tirole
Creator
Contributor
Author
Language
eng
Summary
This paper analyzes the impact of labor market competition and skill-biased technical change on the structure of compensation. The model combines multitasking and screening, embedded into a Hotelling-like framework. Competition for the most talented workers leads to an escalating reliance on performance pay and other high-powered incentives, thereby shifting effort away from less easily contractible tasks such as long-term investments, risk management and within-firm cooperation. Under perfect competition, the resulting efficiency loss can be larger than that imposed by a single firm or principal, who distorts incentives downward in order to extract rents. More generally, as declining market frictions lead employers to compete more aggressively, the monopsonistic underincentivization of low-skill agents first decreases, then gives way to a growing overincentivization of high-skill ones. Aggregate welfare is thus hill-shaped with respect to the competitiveness of the labor market, while inequality tends to rise monotonically. Bonus caps and income taxes can help restore balance in agents' incentives and behavior, but may generate their own set of distortions
Member of
Cataloging source
IT-FiEUI
http://library.link/vocab/creatorName
Benabou, Roland
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Tirole, Jean
  • Centre for Economic Policy Research (Great Britain)
Series statement
CEPR discussion paper
Series volume
no. 9419
Label
Bonus culture : competitive pay, screening, and multitasking, Roland Bénabou, Jean Tirole, (electronic resource)
Link
http://www.cepr.org.ezproxy.eui.eu/content/discussion-papers
Instantiates
Publication
Note
"April 2013"
Bibliography note
Includes bibliographical references (pages 63-65)
Carrier category
unspecified
Carrier category code
  • zu
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb17480796
Extent
65 pages
Media category
computer
Media MARC source
rdamedia.
Media type code
  • c
Other physical details
illustrations.
System control number
(OCoLC)1088460961
Label
Bonus culture : competitive pay, screening, and multitasking, Roland Bénabou, Jean Tirole, (electronic resource)
Link
http://www.cepr.org.ezproxy.eui.eu/content/discussion-papers
Publication
Note
"April 2013"
Bibliography note
Includes bibliographical references (pages 63-65)
Carrier category
unspecified
Carrier category code
  • zu
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb17480796
Extent
65 pages
Media category
computer
Media MARC source
rdamedia.
Media type code
  • c
Other physical details
illustrations.
System control number
(OCoLC)1088460961

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