The provision of wage incentives: A structural estimation using contracts variation
Autor: | Xavier D'Haultfœuille, Philippe Février |
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Rok vydání: | 2020 |
Předmět: |
Economics and Econometrics
media_common.quotation_subject jel:D82 Wage jel:D86 Microeconomics Information asymmetry asymmetric information Complete information Incentives 0502 economics and business ddc:330 Economics C14 050207 economics 050205 econometrics media_common optimal contracts 05 social sciences Structural estimation Nonparametric statistics incentives asymmetric information optimal contracts nonparametric identification jel:C14 D82 Identification (information) Incentive Piece work D86 nonparametric identification |
Zdroj: | Quantitative Economics. 11:349-397 |
ISSN: | 1759-7323 |
Popis: | We address empirically the issues of the optimality of simple linear compensation contracts and the importance of asymmetries between firms and workers. For that purpose, we consider contracts between the French National Institute of Statistics and Economics (Insee) and the interviewers it hired to conduct its surveys in 2001, 2002, and 2003. To derive our results, we exploit an exogenous change in the contract structure in 2003, the piece rate increasing from 20.2 to 22.9 euros. We argue that such a change is crucial for a structural analysis. It allows us, in particular, to identify and recover nonparametrically some information on the cost function of the interviewers and on the distribution of their types. This information is used to select correctly our parametric restrictions. Our results indicate that the loss of using such simple contracts instead of the optimal ones is no more than 16%, which might explain why linear contracts are so popular. We also find moderate costs of asymmetric information in our data, the loss being around 22% of what Insee could achieve under complete information. Incentives asymmetric information optimal contracts nonparametric identification C14 D82 D86 |
Databáze: | OpenAIRE |
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