Publications

Research publications and current work

Published and ongoing work in behavioral economics, organizational economics, decision theory, and predictive modelling of economic behavior.

Journal publications

Publication 2024

Efficiency Wages with Motivated Agents

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.

Publication 2024

Managing Anticipation and Reference-Dependent Choice

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.

Publication 2020

Optimal Contracting with Endogenous Project Mission

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.

Publication 2018

This or That? Sequential Rationalization of Indecisive Choice Behavior

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.

Working papers and current research

Working paper Current

On the Optimal Mode of Selling Goods with Uncertain Consumption Quality

Jesper Armouti-Hansen and Matthias Kraekel

Working paper

Abstract

The project studies when decentralized or hybrid sales channels can serve as commitment devices for manufacturers selling goods with uncertain consumption quality.

Research project Current

Predictive Completeness of Social Preference Theories

Jesper Armouti-Hansen

Work in progress, A machine learning benchmark approach

Abstract

This project uses machine learning benchmarks to evaluate how much predictable variation in experimental social preference data is captured by parameterized behavioral models, including extensions with heterogeneous preference types.