Gift-exchange, incentives, and heterogeneous workers

  title={Gift-exchange, incentives, and heterogeneous workers},
  author={Arjan Non},
  journal={Games and Economic Behavior},
By incorporating reciprocity in an otherwise standard principalagent model, I investigate the relation between monetary gift-exchange and incentive pay, while allowing for worker heterogeneity. I assume that some, but not all, workers care more for their principal when they are convinced that the principal cares for them. The principal can be egoistic or altruistic. Absent worker heterogeneity, an altruistic principal signals his altruism by o¤ering relatively weak incentives and a relatively… CONTINUE READING

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