Compensation Disorders: A Comparative Analysis

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While many “psychology studies suggest that men are more competitive than women”, (due to gender and social differences being accentuated through childhood and adulthood), the paper investigates whether men and women differ in preferring competition and how the preference changes economic outcomes. The economic outcome identified is the difference in the preference for compensation scheme received for work. The competition seeks to understand whether more women than men prefer “a noncompetitive piece rate than under a competitive tournament compensation scheme”. While preferences (like raising a child or not enjoying managerial responsibilities) and discrimination accounts for the reason women may not choose to be part of competitive economic environments, the authors use a controlled laboratory experiment “simulating a competitive and noncompetitive compensation scheme” in “a …show more content…
The authors conclude that men are much more overconfident in viewing their performance and this overconfidence affects their entry decisions. However, the authors want to separate these factors, (“overconfidence, risk, and feedback aversion” and “thrill and fear”) to see if they account for differences in choosing a compensation scheme. They find that overconfidence is the common factor that causes the gap in these factors, while “risk and feedback aversion” are insignificant. They also find that, even with the gap between men and women in overconfidence, men and women do have largely different preferences for competition. . Therefore, even when performance does not change under either mechanism for compensation, there still is a “substantial gender difference” when men and women choose which scheme (competitive or noncompetitive) they want to use next. The study finds that two times as many men as women choose the competition even when performance is accounted
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