Cadsby, C. Bram; Engle-Warnick, Jim; Fang, Tony; Song, Fei - Department of Economics and Finance, College of … - 2014
Tournaments are widely used to assign bonuses and determine promotions. Tournament-based compensation is motivating because of the link between relative performance and financial rewards. However, performing relatively well (poorly) may also yield psychological benefits (pain). This may also...