This article analyses promotion tournaments where candidates engage in multiple tasks. We consider a promotion rule where the winner of the promotion tournament is randomly selected from the best performers at each task. The promotion tournament can achieve an efficient outcome for any...

This study proposes a non-cooperative coalitional bargaining game model to analyse wage negotiations between one employer and two workers. Here, randomly selected workers choose whether to negotiate their wage contracts together or separately, considering wage contract externalities. We show...

This paper studies the choice of organizational form under incomplete contracts. We identify an organizational form with a rule of ex-post bargaining and compare four types of organization: horizontal organizations, inverted pyramidal hierarchies, pyramidal hierarchies and vertical hierarchies....