Download or read book Incentives and Motivation in Agency Contracts written by Australian National University. Faculty of Economics and published by . This book was released on 2001 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Intrinsic Motivation and Optimal Incentive Contracts written by Kevin C. Murdock and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: I study the role of intrinsic motivation on optimal incentive contracts. Agents engage in efforts to generate projects with both financial return and intrinsic value to the agent. In a neutral environment, where intrinsic motivation has no direct effect on the disutility of effort, static contracts are unaffected by intrinsic motivation. In contrast, the firm's profits from an implicit contract are increasing in the degree to which the agent is intrinsically motivated, showing that implicit contracts and intrinsic motivation are complements. The results are further extended to consider the role of multiple implicit contracts and product market strategy.
Download or read book Time related Incentive and Disincentive Provisions in Highway Construction Contracts written by Gary J. Fick and published by Transportation Research Board. This book was released on 2010 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report will be of interest to state and local highway agency construction managers and contractors with regard to learning about best practices of time-related incentive and disincentive contract provisions and their effect on staffing levels, productivity, project cost, quality, contract administration, and the contractor's operations and innovations. The report also presents a decision process guide to use as a template for crafting the incentive/disincentive provisions.
Download or read book Use of Incentives in Performance Based Logistics Contracting written by Gregory Sanders and published by Rowman & Littlefield. This book was released on 2018-04-19 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditional contracting is primarily transactional, rewarding contractors when deliveries are made or certain process milestones are met. Performance-Based Logistic (PBL) contracting seeks to base contractor incentives on ongoing performance measures to achieve reliability and cost savings. Key to the success of these arrangements are the incentives that align the interests of the customer and the vendor. This report describes the incentives used in PBL contracts, identifies best practices, and provides recommendations for effective incentives going forward. The study team interviewed PBL practitioners including defense-unique contractors, defense-commercial contractors, and experts who are knowledgeable in the government perspective in the United States and abroad. The team supplemented these interviews by analyzing a PBL dataset of U.S. Department of Defense contracts. Of the four identified categories of incentives—time-based, financial, scope, and other—interviews found that time-based incentives stood out for their reliable appeal and relative underuse in the United States.
Download or read book The Economic Psychology of Incentives written by A. Pepper and published by Springer. This book was released on 2015-07-07 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book proposes a revised theory of agency, drawing on ideas from behavioural economics and built on more robust assumptions about human behaviour than the standard principal-agent model. The book proposes new design principles for executive pay, but also explains the difficulties in changing current executive pay practices.
Download or read book Intrinsic Motivation and Optimal Incentive Contracts written by Kevin Murdock and published by . This book was released on 1998 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Sticky Incentives and Dynamic Agency written by John Yiran Zhu and published by . This book was released on 2011 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: I explicitly derive the optimal dynamic incentive contract in a general continuous time agency problem where inducing static first-best action is not always optimal. My framework generates two dynamic contracts new to the literature: (1) a q̀̀uiet-life" arrangement and (2) a suspension-based endogenously renegotiating contract. Both contractual forms induce a mixture of first-best and non-first-best action. These contracts capture common features in many real life arrangements such as ù̀p-or-out", partnership, tenure, hidden compensation and suspension clauses. In applications, I explore the effects of taxes, bargaining and renegotiation on optimal contracting. My technical work produces a new type of incentive scheme I call sticky incentives which underlies the optimal, infrequent-monitoring approach to inducing a mixture of first-best and non-first-best action. Furthermore, I show how differences in patience between the principal and agent factor into optimal contracting.
Download or read book Incentives in Government Contracting written by R. Preston McAfee and published by . This book was released on 1988 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Motivation Agency and Public Policy written by Julian Le Grand and published by OUP Oxford. This book was released on 2003-09-18 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: Can we rely on the altruism of professionals or the public service ethos to deliver good quality health and education services? And how should patients, parents, and pupils behave - as grateful recipients or active consumers? This book provides new answers to these questions - a milestone in the analysis and development of public policy, from one of the leading thinkers in the field. It provides a new perspective on policy design, emphasising the importance of analysing the motivation of professionals and others who work within the public sector, and both their and public service beneficiaries' capacity for agency or independent action. It argues that the conventional assumption that public sector professionals are public-spirited altruists or 'knights' is misplaced; but so is the alternative that they are all, in David Hume's terminology, 'knaves' or self-interested egoists. We also must not assume that individual citizens are passive recipients of public services (pawns); but nor can they be untrammelled sovereigns with unrestricted choices over services and resources (queens). Instead, policies must be designed so as to give the proper balance of motivation and agency. The book illustrates how this can be done by detailed empirical examination of recent policies in health services, education, social security and taxation. It puts forwards proposals for policy reform, several of which either originated with the author or with which he has been closely associated: universal capital or 'demogrants', discriminating vouchers, matching grants for pensions and for long-term care, and hypothecated taxes.
Download or read book Understanding Contractor Motivation and Contract Incentives written by Phillip E. Oppedahl and published by . This book was released on 1977 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examined the theory of incentive contracting as conducted by the Department of Defense. The author also studied the motives and motivational environment of the defense contractor. A comparison analysis reveals that the contractor drive (motive) is not always commensurate with the incentive target. A hierarchy of needs for contractor firms is proposed as an aid to understanding the contractors motivational environment. A 'shared leadership' model is offered as an improvement step toward better government-contractor interface relations. (Author).
Download or read book Wonderful and woeful work Incentives selection turnover and workers motivation written by Josse Delfgaauw and published by Rozenberg Publishers. This book was released on 2006 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Incentive Contracting Guide written by United States. Department of Defense and published by . This book was released on 1969 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Effects of Incentive Contracts in Research and Development written by Edward B. Roberts and published by Forgotten Books. This book was released on 2018-02-23 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Effects of Incentive Contracts in Research and Development: A Preliminary Research Report In the past several years an effort has originated in the Defense Department (and followed by other government agencies) to discourage the use of cost-p1us=fixed fee (cpff) contracts and substitute contractual incentive arrangements. This effort supposedly relies upon the profit motive to reduce requirements for direct government control and to stim ulate better contractor performance and cost estimating. Incentive type contracts are not new in government contracting. Production contracts have been awarded on a fixed price basis for many years. The fixed price contract provides maximum correlation of contract profits with contract cost, and in theory might offer maximum cost incentive. How ever the use of incentive arrangements on r&d contracts is the novel feature of the dod (and nasa) programs of the past several years. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Download or read book Incentive Contracts and Employee Initiated Innovation written by Wei Cai and published by . This book was released on 2018 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Organizations often empower employees at all levels to propose innovation ideas that rely on their first-hand knowledge of their standard task (i.e. employee-initiated innovation). Many, however, struggle with motivating employees to develop innovative ideas that may benefit the firm, especially when the standard tasks for which employees are hired, measured and incentivized do not explicitly include innovation. Prior analytical research posits that low-powered incentives can motivate employees to pursue innovation opportunities by reducing the pressure to deliver on performance measures associated with their standard tasks included in the incentive contract. Using data from a Chinese manufacturing company where employment contracts for standard tasks exhibit significant variation in terms of composition of fixed and variable components of pay, we examine whether the structure of incentive contracts for the standard tasks influences employees' propensity to engage in innovation activities. We find that employees under fixed-pay contracts are more likely to engage in innovation ideas benefiting the firm relative to employees under variable-pay contracts. Moreover, such efforts are concentrated on innovation ideas that are not specific to the standard task performed by the proposing employee, but are applicable to issues of greater breadth for the firm and/or with a long term view. We perform a battery of additional tests to rule out endogeneity concerns, to validate the robustness of our findings, and to examine the impact of contract structure on important organizational outcomes. Our results contribute to the literature on the effectiveness of using low-powered incentives to encourage unplanned employee-initiated innovation activities that are difficult to contract upon ex ante.
Download or read book Contractor Motivation Theory and Applications written by Robert F. Williams and published by . This book was released on 1981 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contractor motivation is extremely important to the Department of Defense (DOD) because its contracts are critical, there is no alternative to produce in-house, and it is extremely difficult to switch to an alternative source. In spite of this importance, there is little guidance on contractor motivation in DOD acquisition policy and procedure, except for coverage on profit and incentive-fee contracts. There is a need to examine the broader issues of motivation and see if improvements can be made. The study found that contractor motivation is complex and is a function of many contract and noncontract factors beyond profit. The Government should consider motivation as well as capability potential in preaward planning. Government contracting personnel should consider both Government and industry objectives and environments in selecting incentives for a given contract. The contractor motivation process can be modeled in terms of its leading characteristics for use by the Government in contract planning. Unfortunately, contracting personnel do not currently have the resources and flexibility to fully motivate contractors along the lines suggested in the study. (Author).
Download or read book Optimal Performance and Incentive Contracts in a Multidivisional Firm written by Zenat Mohamed Moharam and published by . This book was released on 1983 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Design of Incentive Systems written by Dennis D. Fehrenbacher and published by Springer Science & Business Media. This book was released on 2013-05-28 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary incentives, as a driving force for human behavior, are the main theme of this book. The primary goals underlying the application of monetary incentive systems in companies are motivating employees to strive for superior productivity in line with the interests of employers, and hiring adequately skilled employees. The first goal refers to incentive effects, the latter to sorting effects. This book introduces important theories and concepts concerning behavior under influence of monetary incentives; it reviews existing economic frameworks and identifies specific contingency variables. Based on an integrative framework of elements influencing incentive and sorting effects, a laboratory experiment is presented including detailed methodological discussion on experimentation and data analysis as well as an extensive presentation of findings and discussion of implications.
