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Experimental Evidence of the Effects of the Incentive Design in the Value of Communication

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Abstract

Experimental Evidence of the Effects

of Incentive Design on the Value

of Communication

Hung-Chao Yu Tay-Chang Wang

National Chengchi University National Taiwan University Wu-Chun Chi

Chung-Yuan Christian University

Wednesday, August 15, 2001—10:15–11:45 AM

Forum Paper, Table 43—Management Accounting

This paper experimentally examines the interactions between incentive inten-sity and the value of communication be-tween owner and manager. Seven hypoth-eses based on the comparative statics predictions of a Bayesian game model are tested. The experimental results from six laboratory market settings reveal several important conclusions. First, communi-cation is valuable in mitigating manager’s dysfunctional behavior of giving up in-novation project. Second, the value of communication could be hurt by a high incentive intensity. This result may par-tially explain the empirically weaker in-centive intensity than theory prediction. Finally, a project’s outcome uncertainty

affects subjects’ perception about the connection between their actions and the corresponding payoffs. The strength of this “salience ambiguity” in turn consti-tutes a key condition under which model predictions may or may not predict sub-jects’ strategic behavior. In particular, we find that the predictive power of our model substantially improves when sub-jects’ salience ambiguity decreases due to lower outcome uncertainty. These find-ings expand the managerial accounting literature by showing how incentive-related variables (i.e., project’s outcome uncertainty and incentive intensity) may affect the effectiveness of a participative budgeting system.

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