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Are 18 Holes Enough for Tiger Woods?

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  • Oliver Gürtler

Abstract

This article addresses the selection problem in promotion tournaments. I consider a situation with heterogeneous employees and ask whether an employer might be interested in repeating a promotion tournament. On the one hand, this yields a reduction in uncertainty over the employees’ abilities. On the other hand, there are costs if a workplace stays vacant.

Suggested Citation

  • Oliver Gürtler, 2006. "Are 18 Holes Enough for Tiger Woods?," Bulletin of Economic Research, Wiley Blackwell, vol. 58(3), pages 267-284, July.
    • Handle: RePEc:bla:buecrs:v:58:y:2006:i:3:p:267-284
    DOI: 10.1111/j.0307-3378.2006.00244.x
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    References listed on IDEAS

    as
    1. Derek Clark & Christian Riis, 2001. "Rank-order tournaments and selection," Journal of Economics, Springer, vol. 73(2), pages 167-191, June.
    2. Lazear, Edward P & Rosen, Sherwin, 1981. "Rank-Order Tournaments as Optimum Labor Contracts," Journal of Political Economy, University of Chicago Press, vol. 89(5), pages 841-864, October.
    3. Rosen, Sherwin, 1986. "Prizes and Incentives in Elimination Tournaments," American Economic Review, American Economic Association, vol. 76(4), pages 701-715, September.
    4. Margaret A. Meyer, 1991. "Learning from Coarse Information: Biased Contests and Career Profiles," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(1), pages 15-41.
    5. Hvide, Hans K. & Kristiansen, Eirik G., 2003. "Risk taking in selection contests," Games and Economic Behavior, Elsevier, vol. 42(1), pages 172-179, January.
    6. Green, Jerry R & Stokey, Nancy L, 1983. "A Comparison of Tournaments and Contracts," Journal of Political Economy, University of Chicago Press, vol. 91(3), pages 349-364, June.
    7. Barry J. Nalebuff & Joseph E. Stiglitz, 1983. "Prices and Incentives: Towards a General Theory of Compensation and Competition," Bell Journal of Economics, The RAND Corporation, vol. 14(1), pages 21-43, Spring.
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    Cited by:

    1. James W. Bono, 2008. "Sales contests, promotion decisions and heterogeneous risk," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 29(4), pages 371-382.
    2. repec:lan:wpaper:3570 is not listed on IDEAS
    3. B Frick & R Simmons, 2007. "The allocation of rewards in athletic contests," Working Papers 591160, Lancaster University Management School, Economics Department.
    4. repec:lan:wpaper:3678 is not listed on IDEAS
    5. repec:lan:wpaper:3963 is not listed on IDEAS

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    More about this item

    JEL classification:

    • M51 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Firm Employment Decisions; Promotions
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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