The aim of the Beyond Budgeting concept is to recognize mutual interconnections and relations of budgeting process as a whole, to design the management model of a company operating in turbulent market environment and to specify the principles, rules and tools of the model. The Beyond Budgeting...

A parsimonious model is used to explore the risk-bearing decision under a payoff structure that emphasizes relative performance. Equilibrium betting amounts are derived for players who start with unequal endowments and face a lottery that offers either a positive or negative expected return. If...

Previous research has demonstrated that people’s concern about their position relative to a reference group (i.e., positional concern) is stronger in some domains than in others. Our survey data reveals that people care more about their relative position in domains where they have to engage in...

The paper studies first-score auctions awarded under the aggregative compensating method. We show that equilibria display various anomalies which are caused by the competitors that are unable to reach either the first or the second position in the bid ranking. While such competitors are...

We study the optimal allocation of screening tasks between two agents (incumbent vs. outsider or senior vs. junior) competing for one job. First, we characterize the inefficiencies from the principal's viewpoint of delegating the selection of the screening procedure to the incumbent. In general,...