We develop a product market theory that explains why firms invest in general training of their workers. We consider a …

assign a non-profit-maximization objective to their managers. Consequently, managers in a delegation game invest more in cost …

This paper tests two hypotheses from the theory of elimination tournaments: (i) that uneven tournaments, where the … contestants are ex ante heterogeneous, entail lower effort exertion; this is a prediction from agency theory that has not been … underlies any agency theory about elimination tournaments, and has been empirically tested in other contexts. The evidence …

than purely self-interested agents for a given prize structure. Contrary to standard tournament theory first-best efforts …

than purely self-interested agents for a given prize structure. Contrary to standard tournament theory first-best efforts …

: In a sequential-move tournament with heterogeneous agents, there may be either a first-mover or a second-mover advantage …

such doping or cheating within a tournament game between two heterogeneous players. Three major effects are identified …

sequential tournament, under certain conditions the first acting agent chooses a preemptively high effort so that the following …

general model of a heterogeneous oligopoly where the firms decide on their optimal range of information exchange in the first …