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Standard models of promotion tournaments assume that firms can commit to arbitrary tournament prizes. In this paper, a firm's ability to adjust tournament prizes is constrained by the outside labor market, through the wages other firms are willing to offer to the promoted and unpromoted workers....
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Team production is increasingly common in bench science, because scientists specialize and then combine their skills in … a team. We argue that team production makes it more difficult to identify the quality of a junior scientist, as her … productivity cannot be perfectly distinguished from others in the team. We develop a model of promotions within academic science …
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We study the impact of changes in the commitment power of a principal on cooperation among agents, in a model in which the principal and her agents are symmetrically uncertain about the agents' innate abilities. When the principal cannot commit herself to long-term wage contracts, two types of...
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We study team design in the presence of career concerns. In the model, the agents have explicit effort incentives from … principal assigns agents with similar career concerns to a team, whereas with mixed teams, the principal assigns agents with … different career concerns to a team. We find that the characteristics of the available information are important determinants of …
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