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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. 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.
    2. Scotchmer, Suzanne, 2008. "Risk taking and gender in hierarchies," Theoretical Economics, Econometric Society, vol. 3(4), December.
    3. Jens Prüfer & Uwe Walz, 2013. "Academic faculty governance and recruitment decisions," Public Choice, Springer, vol. 155(3), pages 507-529, June.
    4. repec:spr:sochwe:v:49:y:2017:i:3:d:10.1007_s00355-016-0989-5 is not listed on IDEAS

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