model where firms first decide whether to invest in general human capital, then make wage offers for each others' trained … employees and finally engage in imperfect product market competition. Equilibria with and without training, and multiple … equilibria can emerge. If competition is sufficiently soft and trained workers are substitutes, firms may invest in non …

model where firms first decide whether to invest in general human capital, then make wage offers for each others' trained … employees and finally engage in imperfect product market competition. Equilibria with and without training, and multiple … equilibria can emerge. If competition is sufficiently soft and trained workers are substitutes, firms may invest in non …

treatments agents earn the same wage sum but wage increases are distributed differently over time. We find that agents work … harder under increasing wage profiles if they do not know these profiles in advance. A profile that continuously increases … wages by small amounts raises performance by about 15% relative to a constant wage. The effort reactions can be organized by …

Competition is ubiquitous in economic life. Yet, negative consequences of competitive environments have been reported … subjectively perceived stress and the physiological changes induced by a well-established economic laboratory competition paradigm … active coping style were related to the self-selection into competition in the third round of the game. We speculate that …