2024 · Publication
Jesper Armouti-Hansen, Lea Cassar, Anna Dereky, and Florian Engl
Games and Economic Behavior, 145, pp. 66-83
Abstract
Many jobs serve a social purpose beyond profit maximization. This paper uses a modified principal-agent gift-exchange game with positive externality to study how workers' prosocial motivation interacts with efficiency wages in stimulating effort. The results show that prosocial motivation and efficiency wages are independent in stimulating effort, while principals offer higher wages in the prosocial treatment because they underestimate reciprocity in the standard gift-exchange environment.
2024 · Publication
Jesper Armouti-Hansen and Christopher Kops
Journal of Mathematical Economics, 112, 102988
Abstract
The paper develops a model of reference-dependent choice in which the reference point may be any convex combination of possible outcomes under a consumption lottery. It introduces solution concepts, characterizes them on choice data, and identifies the model's parameters.
2020 · Publication
Jesper Armouti-Hansen and Lea Cassar
Journal of the European Economic Association, 18(5), pp. 2647-2676
Abstract
The paper studies how organizations can choose a project mission to attract, incentivize, and screen workers. It analyzes how contractual environments shape the optimal distance between the organization's preferred mission and the agents' preferred mission.
2018 · Publication
Jesper Armouti-Hansen and Christopher Kops
Theory and Decision, 84(4), pp. 507-524
Abstract
The paper extends established models of boundedly rational choice to account for indecisive choice behavior in complex choice problems where alternatives are difficult to compare exhaustively.