Rat Races and Glass Ceilings: Career Paths in Organizations
In an ongoing organization, such as a large law parternship firm, employees are motivated not only by current rewards but also by the prospect of promotion, and the opportunity to influence policy and make the rules in the future. This leads to a dynamic programming problem in contract design. We model career design in such a firm as a recursive mechanism design problem in an overlapping generations environment.
|Date of creation:||2001|
|Date of revision:|
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