Communities, Co-ops, and Clubs: Social Capital and Incentives in Large Collective Organizations

• 成果类型: Article
• 署名作者: Jacobs, Joshua A.; Kolb, Aaron M.; Taylor, Curtis R.
• 署名单位: University of Washington; University of Washington Seattle; Indiana University System; Indiana University Bloomington; IU Kelley School of Business; Duke University
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MICROECONOMICS
• ISSN/ISSBN: 1945-7669
• DOI: 10.1257/mic.20180359
• 发表日期: 2021
• 页码: 29-69
• 关键词: Folk theorem; CONTRACTS; games; firm

摘要

We study a continuous-time organization design problem. Each member's output is an imperfect signal of his underlying effort, and each member's utility from remaining in the organization is endogenous to other members' efforts. Monetary transfers are assumed infeasible. Incentives can be provided only through two channels: expulsion following poor performance and respite following good performance. We derive the steady state distribution of members' continuation utilities for arbitrary values of the initial and maximum continuation utilities and then optimize these values according to organizational objectives. An optimally designed organization can be implemented by associating continuation utilities with a performance-tracking reputation system.