IBE Special Lecture
"Behavioral Personnel Economics"
Professor Macera will first overview the field of Personnel Economics (PE). Then she will broadly describe how insights from Behavioral economics have enriched the questions PE addresses, and how it has helped address questions classical economics might fall short to answer. She will discuss theoretical as well as applied research.
Professor Macera will then go deep into two theoretical applications of Behavioral PE. One is the "Optimal incentive contracts under inequality aversion" by Florian Englmaier and Achim Wambach (Games and Economic Behavior, 2010), https://www.sciencedirect.com/science/article/pii/S0899825610000035
The other is "Binary Payment Schemes: Moral Hazard and Loss Aversion" by Fabian Herweg, Daniel Mueller and Philipp Weinschenk (AER, 2010), https://www.aeaweb.org/articles?id=10.1257/aer.100.5.2451
Before the second paper, Professor Macera will revisit the contribution of Koszegi and Rabin (2006) on expectation-based loss aversion. When doing so, she will try to highlight general properties of this model that are behind many applications of the framework.