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Title page
Contents
Abstract 3
1. Introduction 4
2. Conceptual Framework 8
2.1. Model 8
2.2. Hypotheses 10
3. Experimental Design 13
3.1. Delegation Game with Known Return to Effort 14
3.2. Delegation Game with Unknown Return to Effort 17
3.3. Experimental Procedures 18
3.4. Descriptive Statistics 19
4. Results 24
4.1. Locus of Control and the Preference for Agency 25
4.2. Locus of Control and Beliefs about the Return to Effort 26
4.3. Locus of Control and Effort Decisions 27
4.4. Locus of Control and Decision-Making by Gender 28
4.5. Summary: Channels Linking Locus of Control to Decision-Making 31
5. Conclusion 32
References 35
A. Appendix 41
A.1. Parameters of the Delegation Games 41
A.2. Experimental procedures 41
A.3. Descriptive Statistics 44
A.4. Additional Results on Beliefs and Effort Threshold for Delegation 46
Figure 1. Illustration of the experimental design 18
Figure 2. Average Certainty Equivalents of Control and Delegation Lotteries (in experimental points) 21
Figure 3. Beliefs of Chance of Success (own project) 23
Figure 4. Effort Decisions by Treatment 24
Figure A.1. Distribution of the Locus of Control Index by Treatment 44
Figure A.2. Average Certainty Equivalents of Control and Delegation Lotteries (in experimental points) in the Unknown Return Treatment 46
Figure A.3. Principals' Beliefs about Chance of Success of the Agent's Project 47
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