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Cited by 268

The DOI matches its Crossref record; 61 of the 61 references it cites were found in a registry or an index.

The Intrinsic Value of Decision Rights

Bartling, Björn, Fehr, Ernst, Herz, Holger·2014·Econometrica
DOI 10.3982/ecta11573
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Abstract

Philosophers, psychologists, and economists have long argued that certain decision rights carry not only instrumental value but may also be valuable for their own sake. The ideas of autonomy, freedom, and liberty derive their intuitive appeal—at least partly—from an assumed positive intrinsic value of decision rights. Providing clean evidence for the existence of this intrinsic value and measuring its size, however, is intricate. Here, we develop a method capable of achieving these goals. The data reveal that the large majority of our subjects intrinsically value decision rights beyond their instrumental benefit. The intrinsic valuation of decision rights has potentially important consequences for corporate governance, human resource management, and optimal job design: it may explain why managers value power, why employees appreciate jobs with task discretion, why individuals sort into self-employment, and why the reallocation of decision rights is often very difficult and cumbersome. Our method and results may also prove useful in developing an empirical revealed preference foundation for concepts such as “freedom of choice” and “individual autonomy.”

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Metadata

Authors
Bartling, B., Fehr, E., & Herz, H.
Venue
Econometrica
Publisher
The Econometric Society
Published
2014-11
Volume
82
Issue
6
Pages
2005-2039
ISSN
0012-9682 (ISSN-L)
DOI
10.3982/ecta11573
OpenAlex
W2994688483
Cited by
268
References
61
FWCI
45.26
Type
journal article
Language
en
Open access
closed

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