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On the Dynamics of Standards

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  • Sobel, Joel

Abstract

I study a two-parameter family of rules governing the process of entry into a club. There are three types of agent: candidates desire to enter the club; judges vote on who should enter; elite are already in the club. Promotion requires that at least n of N judges agree that a candidate is at least as good as r of the R members of the elite. Candidates minimize the cost of acquiring a D-dimensional characteristic subject to satisfying the promotion criteria. The article characterizes how minimum entry standards change over time under different assumptions. Copyright 2001 by the RAND Corporation.

Suggested Citation

  • Sobel, Joel, 2001. "On the Dynamics of Standards," RAND Journal of Economics, The RAND Corporation, vol. 32(4), pages 606-623, Winter.
    • Handle: RePEc:rje:randje:v:32:y:2001:i:4:p:606-23
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    Cited by:

    1. ,, 2008. "Risk taking and gender in hierarchies," Theoretical Economics, Econometric Society, vol. 3(4), December.
    2. repec:bla:annpce:v:89:y:2018:i:1:p:87-107 is not listed on IDEAS
    3. Jens Prüfer & Uwe Walz, 2013. "Academic faculty governance and recruitment decisions," Public Choice, Springer, vol. 155(3), pages 507-529, June.
    4. Rick Harbaugh & John W. Maxwell & Beatrice Roussillon, 2006. "The Groucho Effect of Uncertain Standards," Working Papers 2006-09, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
    5. Carmen Beviá & Luis Corchón & Antonio Romero-Medina, 2017. "Relinquishing power, exploitation and political unemployment in democratic organizations," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 49(3), pages 735-753, December.

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