TY  - RPRT
        AU  - Abeler, Johannes
AU  - Altmann, Steffen
AU  - Goerg, Sebastian J.
AU  - Kube, Sebastian
AU  - Wibral, Matthias
        TI  - Equity and Efficiency in Multi-Worker Firms: Insights from Experimental Economics
        PY  - 2011/May/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 5727
        UR  - https://www.iza.org/publications/dp5727
        AB  - In this paper, we discuss recent evidence from economic experiments that study the impact of social preferences on workplace behavior. We focus on situations in which a single employer interacts with multiple employees. Traditionally, equity and efficiency have been seen as opposing aims in such work environments: individual pay-for-performance schemes maximize efficiency but might lead to inequitable outcomes. We present findings from laboratory experiments that show under which circumstances partially incomplete contracts can create equitable work environments while at the same time reaching surprisingly efficient outcomes.
        KW  - laboratory experiments
KW  - wage setting
KW  - equity
KW  - gift exchange
KW  - reciprocity
KW  - incomplete contracts
KW  - incentives
KW  - organizational economics
        ER  -