ECOS2201 - Economics of Competition and Strategy - Economics Assignment Help

Assignment Task

Assignment – Motivating Creativity in Organizations

1 Details
The main objective of this assignment is to get you to apply concepts learnt in the class to real world problems. In terms of allocating time, you should set aside about
2 hours a week to work on the assignment. The assignment (typed with 11 point font and double spacing) has to be submitted on Canvas through Turnitin by midnight
12th of November, 2021 (more details on the link and how to submit the assignment will be provided closer to the date).

2 Topic
For this assignment, I want you to consider a job where “creativity” plays a fundamental role. For example, creativity is a crucial input in most jobs that require some form of innovation. The purpose of this assignment is to think about the challenges of motivating creativity in an organization.
1. Select a job where creativity (as you choose to define it) plays a central role.
Briefly describe why creativity is important in this job.

2. Specify an incentive conflict (see lectures 1 to 5 for what I mean by incentive conflict) related to creativity that arises on the job. Set up a very simple model of this incentive conflict. For this you will need to think of why the incentive conflict arises and the tools that can be used (e.g. monetary incentives or other instruments that you think play an important role) to address it. You do not need to solve your model.
By “set up a model”, I want you to highlight the main features of your model. This can be done with a few equations/inequalities. Or you could even describe these central features verbally. It just needs to be clear and concise.

3. What is the central tradeoff in your model?

4. What implications and insights does your model generate? For example, if you were to advise the CEO on designing incentives for creativity, what would you advice be?

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