The Limits of Meritocracy /
We show that too much meritocracy, modeled as accuracy of performance ranking in contests, can be a bad thing: in contests with homogeneous agents, it reduces output and is Pareto inefficient. In contests with sufficiently heterogeneous agents, discouragement and complacency effects further reduce t...
| Autor principal: | |
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| Outros Autores: | , |
| Formato: | Periódico |
| Idioma: | English |
| Publicado em: |
Washington, D.C. :
International Monetary Fund,
2018.
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| Colecção: | IMF Working Papers; Working Paper ;
No. 2018/231 |
| Assuntos: | |
| Acesso em linha: | Full text available on IMF |