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Akerlof, Robert J., Matouschek, Niko and Rayo, Luis (2020) Stories at work. AEA Papers and Proceedings, 110 . pp. 199-204. doi:10.1257/pandp.20201093
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Official URL: https://doi.org/10.1257/pandp.20201093
Abstract
Organizational stories are commonplace and a crucial force shaping employee behavior. We show how an organization's choice of story can be formally incorporated into its design problem. In our simple model, the organization optimally becomes either “purpose driven,” which involves pairing flat money incentives with a story that emphasizes the importance of generating output (e.g., saving lives, putting a person on the moon), or “incentive driven,” which involves pairing steep money incentives with a narrower story that emphasizes the importance of maintaining ethical standards (e.g., maintaining quality, helping peers). We illustrate the applicability of these results using a variety of examples.
| Item Type: | Journal Article | ||||
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| Subjects: | H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HF Commerce |
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| Divisions: | Faculty of Social Sciences > Warwick Business School | ||||
| SWORD Depositor: | Library Publications Router | ||||
| Library of Congress Subject Headings (LCSH): | Success in business, Creative ability in business , Organizational effectiveness | ||||
| Journal or Publication Title: | AEA Papers and Proceedings | ||||
| Publisher: | American Economic Association | ||||
| ISSN: | 2574-0776 | ||||
| Official Date: | 1 May 2020 | ||||
| Dates: |
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| Volume: | 110 | ||||
| Page Range: | pp. 199-204 | ||||
| DOI: | 10.1257/pandp.20201093 | ||||
| Status: | Peer Reviewed | ||||
| Publication Status: | Published | ||||
| Reuse Statement (publisher, data, author rights): | "Copyright © 1998, 1999, 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020 by the American Economic Association. Permission to make digital or hard copies of part or all of American Economic Association publications for personal or classroom use is granted without fee provided that copies are not distributed for profit or direct commercial advantage and that copies show this notice on the first page or initial screen of a display along with the full citation, including the name of the author. Copyrights for components of this work owned by others than AEA must be honored. Abstracting with credit is permitted. The author has the right to republish, post on servers, redistribute to lists and use any component of this work in other works. For others to do so requires prior specific permission and/or a fee. Permissions may be requested from the American Economic Association Administrative Office by going to the Contact Us form and choosing ""Copyright/Permissions Request"" from the menu. | ||||
| Access rights to Published version: | Restricted or Subscription Access |
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