»ESI Lecture Series, sponsored by IFREE
+-2013-2014 Lecture Guests
Abstract: Drafting contracts for technology transfer is challenging. We study how the involvement of expert third parties may influence the design of these contracts. We suggest that beyond the mere alignment of transaction attributes and contractual governance, firms make a critical intermediate decision: they decide whether to involve third parties in the contract design process. In this study, we first analyze the factors behind the decision to use third parties for either technical or legal support services. We argue that this decision results from a trade-off, which varies with the transaction attributes and the category of support services solicited. Second, as third parties may both increase or decrease contractual complexity, we develop and test competing arguments regarding their influence on contract design. Based on a sample of 113 technology licensing partnerships, we find that transaction attributes, besides directly influencing contractual complexity, also influence the likelihood of using a third party. We find that, overall, third parties used for technical and legal support services tend to increase contractual complexity. However, when used for either technical or legal support services, third parties have distinct influences on the various contractual dimensions. We derive implications for research on contract design in inter-organizational relationships.
Bio: Fabrice Lumineau is an Assistant Professor in Strategic Management at the Krannert School of Management at Purdue University. His research investigates inter-organizational partnerships, the interplay between contract and trust in collaborative strategies, and dispute negotiation dynamics. He has published articles in Academy of Management Journal, Journal of Operations Management, Organization Science, Organization Studies, Strategic Management Journal, and Strategic Organization. He serves on the editorial board of Strategic Management Journal and Strategic Organization.
Abstract: The aim of this paper is to test the effectiveness of wage-irrelevant goal setting policies in a laboratory environment. In our design, managers can assign a goal to their workers by setting a certain level of performance on the work task. We establish our theoretical conjectures by developing a model in which assigned goals act as reference points to workers’ intrinsic motivation. Consistent with our model, we find that managers set goals which are challenging but attainable for an average-ability worker. Workers respond to these goals by increasing effort, performance and by decreasing on-the-job leisure activities with respect to the no-goal setting baseline. Finally, we study the interaction between goal setting and monetary rewards and find, in line with our theoretical model, that goal setting is most effective when monetary incentives are strong. These results suggest that goal setting may produce intrinsic motivation and increase workers’ performance beyond what is achieved using solely monetary incentives.
Bio: Joaquín Gómez-Miñambres is an Assistant Professor of Economics at Bucknell University. He received his Ph.D. in Economics from the University Carlos III of Madrid in 2011. From 2011 to 2013 he was a research associate at the Economic Science Institute at Chapman University. His main line of research examines problems of work intrinsic motivation. He focuses on the implications for the theory of incentives of workers having a sense of self-achievement from attaining non-binding goals. In addition he studies problems of temptation and self-control focusing on the implications of modeling agents as having two utility functions with conflicting interests.
Abstract: We measure the other-regarding behavior in samples from three related populations in the upper Midwest of the United States: college students, non-student adults from the community surrounding the college, and adult trainee truckers in a residential training program. The use of typical experimental economics recruitment procedures made the first two groups substantially self-selected. Because the context
reduced the opportunity cost of participating dramatically, 91 % of the adult trainees solicited participated, leaving little scope for self-selection in this sample. We find no differences in the elicited other-regarding preferences between the self-selected adults and the adult trainees, suggesting that selection is unlikely to bias inferences about the prevalence of other-regarding preferences among non-student adult subjects. Our
data also reject the more specific hypothesis that approval-seeking subjects are the ones most likely to select into experiments. Finally, we observe a large difference between self-selected college students and self-selected adults: the students appear considerably less pro-social.
Bio: Stephen Burks is Associate Professor of Economics & Management at the Morris campus of the University of Minnesota, and holds a Ph.D. in economics from the University of Massachusetts-Amherst. His prior background in trucking led to a dissertation on the industry, and to a now long-standing personal research direction on trucking. He first encountered experimental economics at the IFREE summer “boot camp” for graduate students at Tucson in 1998, which is where he first developed the goal of running behavioral economic experiments with truckers. This influenced the design of the Truckers & Turnover Project, a now twelve-year-long research collaboration with a major motor carrier, the source of the present seminar. His work has been published in the Proceedings of the National Academy of Science, Accident Analysis and Prevention, Management Science, the Review of Economic Studies, and the Industrial Relations Research Review, among other places.
April 11, 2014, Paola Mallucci, Ph.D. - Fairness Ideals in Distribution Channels
More information forthcoming.
Bio: Paola Mallucci’s research uses experimental and behavioral economics to understand how customers with non-standard preferences interact with profit-maximizing firms. In her work, she investigates how social preferences, such as social pressure and fairness, can affect important marketing decisions such as product pricing in channels and Corporate Social Responsibility actions. Her additional research interests include discrete choice modeling of experimental data, contractual choices and time inconsistency.
Mallucci is Assistant Professor of Marketing at the Wisconsin School of Business at the University of Wisconsin. She earned her Ph.D. at the University of Minnesota in 2013.
Abstract: We explore the behavior of losers of promotion tournaments after the tournament is concluded. We do so through the use of an experiment in which we vary the design of the promotion tournament to determine how tournament design affects post tournament effort. We provide a theoretical model demonstrating two possible effects from the tournaments which are strategic sabotage and the possibility that a worker becomes discouraged by the tournament outcome. We examine behavior after the tournament and find evidence suggesting that bad tournament design can lead to workers being discouraged. This discouragement effect is strong for low ability workers but not for high ability workers. On the other hand we do find evidence that some high ability workers engage in strategic sabotage but the incidence does not vary with the design of the promotion tournament.
Bio: Tim Salmon is Professor of Economics at Southern Methodist University. He earned his PhD from the Johns Hopkins University and has had prior positions at Florida State, The California Institute of Technology and the Federal Communications Commission. Tim is a behavioral economist who uses the tools of economic theory and experimental economics in trying to answer a range of applied mechanism design problems. His research has ranged from the design of auction mechanisms to the design of monitoring mechanisms for limiting corruption in developing countries.
April 25, 2014, Greg Waymire, Ph.D.
More information forthcoming.
April 28, 2014, Jeffrey Carpenter, Ph.D.
More information forthcoming.
May 9, 2014, Leeat Yariv, Ph.D.
More information forthcoming.
December 5, 2014, David Hirshleifer, Ph.D.
More information forthcoming.
Dec. 06, 2013, Jack Stecher, Ph.D. -Description and Experience Based Decision Making: An Experimental and Structural Estimation Approach to the Decision-Experience Gap
Feb. 22, 2013 Jordi Brandts Bernad, Ph.D. - Let’s talk: How communication affects contract design.
Nov. 9, 2012 Uri Gneezy, Ph.D. - Incentives and Behavior Change
Sept. 28, 2012 Charles Thomas, Ph.D. - An Alternating-Offers Model of Multilateral Negotiations - Watch lecture
Aug. 31, 2012 Yan Chen, Ph.D. - Crowdsourcing with All-pay Auctions: a Field Experiment on Taskcn - Watch lecture
Apr. 20, 2012 Shawn Kantor, Ph.D. - Do Research Universities Generate Local Economic Growth? - Watch lecture
Feb. 24, 2012 John Tooby, Ph.D. - The Welfare Tradeoff Architecture, Cooperation, and Social Emotions - For further reading please see: Formidability and the logic of human anger and The architecture of human kin detection. - Watch lecture
Nov. 11, 2011 Mark M. Bykowsky, Ph.D. - A Market-based Approach to Establishing Licensing Rules: Licensed Versus Unlicensed Use of Spectrum Federal Communications Commission - please watch this video before lecture - Watch lecture
Oct. 21, 2011 Parker Ballinger, Ph.D. - Individual versus Social Learning: The Importance of Demonstrability - Watch lecture
Apr. 8, 2011 Kevin McCabe, Ph.D. – Experiments on the role of third parties on redistribution decisions. For further reading please see: Shared Experience and Third-Party Decisions: A Laboratory Result, Legitimacy in the lab – The separate and joint effects of earned roles and earned endowments in third-party redistribution, Whose money is it anyway? Ingroups and distributive behavior. - Watch lecture
Apr. 1, 2011 Michael Gurven, Ph.D. - Experimental investigation of fairness and altruism norms in small-scale societies - Further reading: Culture sometimes matters: Intra-cultural variation in pro-social behavior among Tsimane Amerindians and Collective Action in Action: Prosocial Behavior in and out of the Laboratory - Watch lecture
Feb. 18, 2011 Catherine Eckel, Ph.D. - Giving to Government: Voluntary Taxation in the Lab - Watch lecture
Feb. 4, 2011 Peter Boettke, Ph.D. - Polycentrism and Gargantua: Which Model Best Provides Public Education? - Watch lecture
Oct. 5, 2010 Andreas Wilke, Ph.D. - Past and Present Environments: The Evolution of Decision Making
May 7, 2010 Jim Gentle, Ph.D. - The Contribution of Jumps to the Volatility of Asset Prices - Watch lecture
Apr. 9, 2010 Gregory Waymire, Ph.D. - Can Trust Be Sustained in an Uncertain World When Individuals Have Machiavellian Intelligence? - Watch lecture
Feb. 5, 2010 Kevin McCabe, Ph.D. - Watch lecture
Dec. 2, 2009 Jeffrey Tollaksen, Ph.D. - New Ideas About the Nature of Time - Watch lecture
Nov. 13, 2009 Sarah F. Brosnan, Ph.D. - An Evolutionary Perspective on the Perception and Utilization of Property . Watch lecture
May 20, 2009 Gerd Gigerenzer Ph.D. - Homo Heuristicus: Why Biased Minds Make Better Inferences. Watch lecture
Mar. 20, 2009 John Ledyard Ph.D. – Individual Evolutionary Learning, Other-regarding Preferences, and the Voluntary Contributions Mechanism. Watch lecture
Nov. 7, 2008 Larry Iannaccone Ph.D. - Looking Backward: A Cross-National Study of Religious Trends. Watch lecture
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