costlessly hardened' and passed along within the hierarchy. As a concrete application of the theory, the paper discusses the …

and others in specialization. Our theory throws light on the nature of hierarchy, the optimal degree of decentralization …

bargaining sequence proceeds as a chain through decision-making agents, regardless of the hierarchy of the organization. We prove … rank in each tier, such as in a tree hierarchy …

us an opportunity to investigate the political economy of administrative hierarchy. Using prefecture-level panel data and … exploiting regime changes during AD1000-2000, we find that gaining and losing importance in the political hierarchy led to the … rise and decline of different prefectures (measured by population density and urbanization). Moreover, political hierarchy …

hierarchy …

In a labor market hierarchy, promotions are affected by the noisiness of information about the candidates. I study the … higher survival rate. Further, even if more risk takers than non risk takers are promoted in the beginning of the hierarchy …

, increasing the ratio between the 95th and 50th percentiles from 3.7 to 4.8. We conclude that the impact of hierarchy on …

If promotion in a hierarchy is based on a random signal of ability, rates of promotion will be affected by risk …-taking. Further, the numbers and abilities of risk-takers and non-risk-takers will be different at each stage of the hierarchy, and …