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When two or more agents compete for a bonus and the agents' productivity in each of several possible occurrences depends stochastically on (constant) effort, the number of times that are checked to assign the bonus affects the level of uncertainty in the selection process. Uncertainty, in turn,...
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firms employing one or more agents and implementing tournament incentives. We show that inter-firm competition leads to …
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perfectly observe the leaders’ actions or else observe nothing. Our experiments show that consistent with the theory, leaders … overreacting. Such punishments in turn induce leaders to behave more softly than the theory predicts. …
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On a homogeneous oligopoly market informed sellers are fully aware of market demand whereas uninformed sellers only …
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