This paper provides evidence of the importance of what might be termed 'expert leaders'. Although it is widely assumed that leaders affect the performance of their organizations, the complexity of this social-science research area has meant that comparatively little empirical progress has been...

This paper proposes a new way to think about happiness. It distinguishes between stocks and flows. Central to the analysis is a concept we call 'hedonic capital'. The paper sets out a model of the dynamics of wellbeing in which bad life-shocks are smoothed by the drawing down of hedonic capital....

We use data on British football managers and teams over the 1994-2007 period to study substitution and complementarity between leaders and subordinates. We find for the Premier League (the highest level of competition) that, other things being equal, managers who themselves played at a higher...

Nearly all workers have a supervisor or 'boss'. Yet there is almost no published research by economists into how bosses affect the quality of employees' lives. This study offers some of the first formal evidence. First, it is shown that a boss's technical competence is the single strongest...