This paper studies contract selection between efficiency wages and subjective performance pay to motivate workers in a market setting. The optimal wage contract (which may be a combination of efficiency wages and subjective performance pay) is determined by turnover costs in labor markets. Specifically, labor markets with higher turnover costs use more subjective performance pay and less effici...

Companies regularly use multiple types of pay-for-performance plans to motivate and sustain high performance levels. Although research generally confirms that pay-for-performance plans can influence these outcomes, it is unclear how effective different pay plans are relative to each other. The current study examines how three different forms of pay-for-performance plans—merit pay, individual-ba...

Using the National Compensation Survey between 2004-2014, we document substantial cyclical heterogeneity among performance pay and fixed wage jobs. We find that employment growth in performance pay (fixed wage) jobs is countercyclical (procyclical), whereas compensation per employee growth is procyclical (countercyclical). Our estimates are identified off the response of similar work levels wit...

reimbursement for healthcare has utilized a variety of payment mechanisms with varying degrees of effectiveness. whether these mechanisms are used singly or in combination, it is imperative that the resulting systems remunerate on the basis of the quantity, complexity, and quality of care provided. expanding the role of the electronic medical record (emr) to monitor provider practice, patient r...

Historically, humans have created many sustainable practices, and among the most famous and successful sustainable practice is the rice–fish system in China. While previous studies have investigated eco-labeling food from various angles, consumer perception and preference of food produced from traditional sustainable practices (traditional sustainable food) remain unexplored. Taking the histori...