The Economic Psychology of Incentives: New Design Principles for Executive Pay

Alexander Pepper, London School of Economics, proposes a revised theory of agency, drawing on ideas from behavioural economics and built on more robust assumptions about human behaviour than the standard principal-agent model. In addition, Pepper proposes new design principles for executive pay, but also explains the difficulties in changing current executive pay practices.

 

Image courtesy of interviewee. January 30, 2017

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