@TechReport{iza:izadps:dp4795,
            	author={Ockenfels, Axel and Sliwka, Dirk and Werner, Peter},
            	title={Bonus Payments and Reference Point Violations},
            	year={2010},
	month={Feb},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={4795},
            	url={https://www.iza.org/index.php/publications/dp4795},
	abstract={We investigate how bonus payments affect satisfaction and performance of managers in a large, multinational company. We find that falling behind a naturally occurring reference point for bonus comparisons reduces satisfaction and subsequent performance. The effects tend to be mitigated if information about one's relative standing towards the reference point is withheld.},
	keywords={job performance;job satisfaction;bonus payments;incentives;reference points},
            }