Bonus Payments and Reference Point Violations
研究了一家大型跨国公司中奖金支付如何影响管理者的满意度和绩效，发现低于公平奖金参照标准会降低满意度和后续绩效，而隐藏相对排名信息可缓解此效应。
We investigate how bonus payments affect the satisfaction and performance of managers in a large multinational company. We find that falling behind a natural reference standard for a fair bonus payment (a “reference point violation”) reduces satisfaction and subsequent performance. The effects are mitigated if information about one’s relative standing toward the reference point is withheld. A model and a laboratory experiment provide complementary insights and additional robustness checks. This paper was accepted by Uri Gneezy, behavioral economics.