Big Fish in Small (and Big) Ponds A Study of Careers - Kölner UniversitätsPublikationsServer

DeVaro, Jed ORCID: 0000-0003-4849-1489, Gürtler, Oliver ORCID: 0000-0001-7792-5325, Gürtler, Marc and Deutscher, Christian ORCID: 0000-0002-3714-3326 (2022). Big Fish in Small (and Big) Ponds A Study of Careers. The Journal of Law, Economics, and Organization. pp. 76-107. CARY: Oxford Univ. Press. ISSN 1465-7341

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DOI:10.1093/jleo/ewac006

Link to the document: https://doi.org/10.1093/jleo/ewac006

Abstract

Talented, ambitious workers (big fish) often join highly competitive organizations (big ponds), though they sometimes instead choose less competitive organizations (small ponds) offering brighter promotion prospects. Big fish exist in both types of organizations, though average worker ability is higher in big ponds. Top executives enjoy higher wages in big ponds. Choosing a big pond allows workers to signal high ability. Workers sometimes overestimate or underestimate their abilities, choosing the wrong pond. Big ponds tend to be larger in total employment. All of the preceding phenomena are shown to be consistent with equilibrium in a new theoretical model of careers. (JEL J24, M53)

Item Type:

Journal Article

Creators:

Creators	Email	ORCID	ORCID Put Code
DeVaro, Jed	UNSPECIFIED	orcid.org/0000-0003-4849-1489	UNSPECIFIED
Gürtler, Oliver	UNSPECIFIED	orcid.org/0000-0001-7792-5325	UNSPECIFIED
Gürtler, Marc	UNSPECIFIED	UNSPECIFIED	UNSPECIFIED
Deutscher, Christian	UNSPECIFIED	orcid.org/0000-0002-3714-3326	UNSPECIFIED