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Two "order effects" may emerge in dynamic tournaments with information feedback. First, participants adjust effort …-taking). We use a randomized natural experiment in professional two-game soccer tournaments where the treatment (order of a stage …
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We correlate competitive bidding and profits in symmetric independent private value first-price auctions with salivary testosterone, estradiol, progesterone, and cortisol in more than 200 subjects. Bids are significantly positively correlated and profits are significantly negatively correlated...
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competition for principals or agents. While we do observe substantial and significant ratchet effects in the baseline (no … competition) case of our model, we find that ratchet behavior is nearly eliminated by labor-market competition; interestingly this …
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In the economic literature on market competition, firms are often modelled as individual decision makers and the … competition. Nevertheless, there are models of team-organization such that team-firms and individual firms are behaviorally … equivalent. This provides a theoretical foundation for the unitary player assumption in Cournot competition. We show that this …
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competition for principals or agents. While we do observe substantial and significant ratchet effects in the baseline (no … competition) case of our model, we find that ratchet behavior is nearly eliminated by labor-market competition; interestingly this …
Persistent link: https://www.econbiz.de/10013324885
This paper studies how a three-layer hierarchical firm (principal-supervisor-agent) optimally creates effort norms for its employees. The key assumption is that effort norms are affected by the example of superiors. In equilibrium, norms are eroded as one moves down the hierarchy. The reason is...
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