Make it challenging : motivation through goal setting

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dc.contributor.author Gómez Miñambres, Joaquín
dc.contributor.editor Universidad Carlos III de Madrid. Departamento de Economía
dc.date.accessioned 2011-09-13T13:10:05Z
dc.date.available 2011-09-13T13:10:05Z
dc.date.issued 2011-08-22
dc.identifier.issn 2340-5031
dc.identifier.uri http://hdl.handle.net/10016/12064
dc.description.abstract We study a principal agent model where agents derive a sense of pride when accomplishing production goals. As in classical models, the principal offers a pay-per-performance wage to the agent, determining the agent’s extrinsic incentives. However, in our setting, the principal does also want to set goals that affect the agents’ intrinsic motivation to work. Agents differ in their personal standard which determines what becomes challenging and rewarding to them, and hence the intensity of their intrinsic motivation to achieve goals. We show that, at the optimal contract, the agents’ production, as well as the goals set by the principal, increase with the agents’ personal standards. Thus, although goal setting is payoff irrelevant, since it does not directly affect agents’ wage, it increases agents’ achievement and hence the principal’s profits. Moreover, we show that a mediocre standard agent could end up being the most satisfied one
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries UC3M Working papers. Economics
dc.relation.ispartofseries 11-23
dc.rights Atribución-NoComercial-SinDerivadas 3.0 España
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.other Intrinsic motivation
dc.subject.other Goal-setting
dc.subject.other Reference dependent preferences
dc.title Make it challenging : motivation through goal setting
dc.type workingPaper
dc.subject.jel D82
dc.subject.jel D86
dc.subject.jel M50
dc.subject.jel Z13
dc.subject.eciencia Economía
dc.rights.accessRights openAccess
dc.type.version submitedVersion
dc.identifier.uxxi DT/0000000906
dc.identifier.repec we1123
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