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Bonus versus penalty: How robust are the effects of contract framing?
Stockholm University, Faculty of Social Sciences, Institute for International Economic Studies. CESifo, Germany.
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Number of Authors: 5
2017 (English)In: Journal of the Economic Science Association, ISSN 2199-6784, Vol. 3, no 2, p. 174-182Article in journal (Refereed) Published
Abstract [en]

We study the relative effectiveness of contracts that are framed either in terms of bonuses or penalties. In one set of treatments, subjects know at the time of effort provision whether they have achieved the bonus/avoided the penalty. In another set of treatments, subjects only learn the success of their performance at the end of the task. We fail to observe a contract framing effect in either condition: effort provision is statistically indistinguishable under bonus and penalty contracts.

Place, publisher, year, edition, pages
2017. Vol. 3, no 2, p. 174-182
Keyword [en]
Contract framing, Bonus, Penalty, Fine, Loss aversion
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:su:diva-153672DOI: 10.1007/s40881-017-0039-9ISI: 000424549900007OAI: oai:DiVA.org:su-153672DiVA, id: diva2:1188081
Available from: 2018-03-06 Created: 2018-03-06 Last updated: 2018-03-06Bibliographically approved

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