We develop a measurement-error framework for assessing the quality of relative-performance metrics designed to filter out the systematic component of performance, and analyze relative total shareholder return (rTSR)-the predominant metric market participants use to isolate managers'...

This paper studies heterogeneity in the reaction to rank feedback. In a laboratory experiment, individuals take part in a series of dynamic real-effort contests with intermediate feedback. To solve the identification problem in estimating the causal effect of rank feedback on subsequent effort...

This paper studies heterogeneity in the reaction to rank feedback. In a laboratory experiment, individuals take part in a series of dynamic real-effort contests with intermediate feedback. To solve the identification problem in estimating the causal effect of rank feedback on subsequent effort...