bonuses under a Management-by-Objectives (MBO) incentive scheme. Six years of personnel data of 177 managers in a German …

of our laboratory experiment is a two-stage tournament in which equilibrium efforts are the same in both stages. We … compare this treatment to a strategically equivalent one-stage tournament and to another two-stage tournament with a more … predictions and compared to the equivalent one-stage tournament. The results for the more convex two-stage tournament show that …

experiment conducted in a bank. In the treatment group managers obtained access to objective performance measures which raised …

with three distinct theories: (i) human capital; (ii) rat race; and (iii) tournament. Third, guided by each theory, we go … are more beneficial for career advancement. Specifically we find: (i) for managers, working long hours will help them …

average productivity by 14%, whereas introducing a tournament increases it by 24%. Both effects are heterogeneous: rank …

Although a broad field of literature on incentive theory exists, employer-provided tangible goods (hereafter called …