کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
984448 934270 2014 12 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Optimal contracting with altruism and reciprocity
ترجمه فارسی عنوان
قرارداد بهینه با خدعه و تقوا
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی


• We study a principal–agent model where players have altruistic and reciprocal motives.
• We show that, relative to the selfish benchmark, efficiency improves when players are altruistic.
• But, an increase of the agent's altruism and reciprocal attitude by both players has ambiguous effects on efficiency.

Motivated by the recent experimental evidence on altruistic behavior, we study a simple principal–agent model where each player cares about other players' utility, and may reciprocate their attitude towards him. We show that, relative to the selfish benchmark, efficiency improves when players are altruistic. Nevertheless, in contrast to what may be expected, an increase in the degree of the agent's altruism as well as a more reciprocal behavior by players has ambiguous effects on efficiency. We also consider the effects of the presence of spiteful players and discuss how monetary transfers between players depend on their degrees of altruism and spitefulness.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Research in Economics - Volume 68, Issue 1, March 2014, Pages 27–38
نویسندگان
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