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Persistent link: https://www.econbiz.de/10003528791
and not on the public signal. Nonetheless, public information is valuable as it facilitates truthful subjective evaluation …
Persistent link: https://www.econbiz.de/10009752336
We develop an analysis of ex ante monitoring of risky projects in banking. If protected from competition, banks are more concerned about not catching good risk projects when the perceived state of the economy improves, while they are more concerned about being induced to finance bad risk...
Persistent link: https://www.econbiz.de/10011417798
? Suppose a manager's evaluation is private information. Justifying her evaluation is costly but limits the principal's scope … for distorting her evaluation of the employee. I show that the manager justifies her evaluation if and only if the … employee's performance was poor. The justification assures the employee that the manager has not distorted the evaluation …
Persistent link: https://www.econbiz.de/10011930440
Persistent link: https://www.econbiz.de/10013428464
This paper considers a fundamental question about the school environment - what are the long run effects of a student's ordinal rank in elementary school? Using administrative data from all public school students in Texas, we show that students with a higher third grade academic rank,...
Persistent link: https://www.econbiz.de/10011905519
Can a firm increase its workers' eff ort by introducing competition through performance-based ranking? On one hand such ranking can increase eff ort because of individuals' desire for status from high ranks, but on the other, it can demotivate them or make them wary of outperforming peers. This...
Persistent link: https://www.econbiz.de/10012118624
We study the rank of the instantaneous or spot covariance matrix Σ(t) of a multidimensional continuous semi-martingale X(t). Given highfrequency observations X(i=n), i = 0; : : : ;n, we test the null hypothesis rank (Σ(t)) ≤ r for all t against local alternatives where the average (r + 1)st...
Persistent link: https://www.econbiz.de/10012655380
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Tournaments are often used to improve performance in innovation contexts. Tournaments provide monetary incentives but also render teams' identity and image concerns salient. We study the effects of tournaments on team performance in a non-routine task and identify the importance of these...
Persistent link: https://www.econbiz.de/10014495030