Discussion Papers 745
6 Regression analysis
player’s effort. This is also reflected in the relatively high and statistically significant (one-tail
test) constant for the high-cost players. While high-cost players always have an interest in
team remuneration, it is interesting for the low-cost players only if they manage to cooperate
with the high-cost player.
Table 2
Choice of team remuneration in VOLUNTARY SYM and ASYM treatments
(Random effects probits)
|
SYM |
ASYM | |||
|
Low cost |
High cost | |||
|
[1] |
[2] |
[1] | ||
|
Constant |
0.216 |
0.550 |
0.151 |
1.219* |
|
(0.375) |
(0.577) |
(0.367) |
(0.725) | |
|
1st period |
-0.187 |
-1.225* | ||
|
(0.505) |
(0.687) | |||
|
Last 5 periods |
-0.581* |
-0.037 | ||
|
(0.273) |
(1.05) | |||
|
Partner’s effort below a |
0.293 |
-0.244 |
-0.976 | |
|
strategic level |
(0.347) |
(0.615) |
(0.727) | |
|
Partner’s effort above a |
___ ⅛ ⅛ 1.325 |
0.867* |
1.225** |
0.999* |
|
strategic level |
(0.387) |
(0.293) |
(0.146) |
(0.475) |
|
ρa |
, _ _* * |
0.385a ** |
__* * |
0.231a * |
|
Loglikelihood |
-195.045 |
-82,647 |
-85.409 |
-52.606 |
|
Nobs |
480 |
240 |
240 |
240 |
|
*Significant at 5%; ** Significant at 1%; one- or two-tail tests, whenever appropriate. ( ) Standard-error. a : Likelihood ratio test. | ||||
6.2 Effort
The determinants of the effort level (in the range of 0 to 100) are reported using panel regres-
sions with fixed effects for individuals and periods. Assuming fixed effects for periods and
strategic first-period and end-game effects being unlikely to play a role in private remunerati-
on, we disregard the “1st period” and “last 5 periods” dummies from these regressions. To
take the remuneration mode into account, we include the dummy variable “team mode” which
is equal to “1” if the group is in the team remuneration mode when the effort is chosen or “0”
24
More intriguing information
1. Integrating the Structural Auction Approach and Traditional Measures of Market Power2. The effect of globalisation on industrial districts in Italy: evidence from the footwear sector
3. Industrial Employment Growth in Spanish Regions - the Role Played by Size, Innovation, and Spatial Aspects
4. The name is absent
5. Population ageing, taxation, pensions and health costs, CHERE Working Paper 2007/10
6. Novelty and Reinforcement Learning in the Value System of Developmental Robots
7. Revisiting The Bell Curve Debate Regarding the Effects of Cognitive Ability on Wages
8. Insecure Property Rights and Growth: The Roles of Appropriation Costs, Wealth Effects, and Heterogeneity
9. Macro-regional evaluation of the Structural Funds using the HERMIN modelling framework
10. Review of “The Hesitant Hand: Taming Self-Interest in the History of Economic Ideas”