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Noisy and Subjective Performance Measure in Promotion Tournaments
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- Authors
- Issue Date
- 2012-04
- Citation
- Seoul Journal of Economics, Vol.25 No.2, pp. 207-221
- Keywords
- Noisy performance measure ; Subjective tournament ; Sorting
- Abstract
- This paper considers both incentive and sorting effects of a promotion
tournament, and analyzes the optimal degree of uncertainty
in the agents' performance measure. In a subjective promotion tournament
where the winner is determined by the principal's belief about
the agents' ability, this paper shows that a noisy performance measure
can have a positive incentive effect and a negative sorting effect.
Therefore, it can be optimal for the principal to intentionally choose
a noisy performance measure.
- ISSN
- 1225-0279
- Language
- English
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