FRAMING OF INCENTIVES AND EFFORT PROVISION
基于前景理论，研究奖金与惩罚框架对努力的影响，实验发现组合使用奖金和惩罚时被试表现最佳，且损失厌恶和敏感性递减共同起作用。
A prospect theory model combining loss aversion and diminishing sensitivity predicts that the link between incentives framing and effort is ambiguous: small penalties yield higher effort, but isomorphic contracts with large penalties decrease effort. We conduct two experiments (a framed field and a conventional lab experiment) in which economically equivalent contracts are framed as menus of either (i) bonuses, (ii) penalties, or (iii) bonuses and penalties. The experimental results confirm the main intuition of the model as subjects performed best when bonuses and penalties are combined. A follow‐up lottery experiment confirms that both loss aversion and diminishing sensitivity influenced the performance.