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Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn >
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http://hdl.handle.net/10419/37036
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| Title: | | Competitive careers as a way to mediocracy  |
| Authors: | | Kräkel, Matthias |
| Issue Date: | | 2009 |
| Series/Report no.: | | Bonn econ discussion papers 2009,25 |
| Abstract: | | We show that in competitive careers based on individual performance the least productive individuals may have the highest probabilities to be promoted to top positions. These individuals have the lowest fall-back positions and, hence, the highest incentives to succeed in career contests. This detrimental incentive effect exists irrespective of whether effort and talent are substitutes or complements in the underlying contest-success function. However, in case of complements the incentive effect may be be outweighed by a productivity effect that favors high effort choices by the more talented individuals. |
| Subjects: | | career competition contest mediocracy |
| JEL: | | D72 J44 J45 M51 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn
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