DeVaro, Jed, Guertler, Oliver, Guertler, Marc and Deutscher, Christian . Big Fish in Small (and Big) Ponds A Study of Careers. J. Law Econ. Organ.. CARY: OXFORD UNIV PRESS INC. ISSN 1465-7341

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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:
CreatorsEmailORCIDORCID Put Code
DeVaro, JedUNSPECIFIEDUNSPECIFIEDUNSPECIFIED
Guertler, OliverUNSPECIFIEDUNSPECIFIEDUNSPECIFIED
Guertler, MarcUNSPECIFIEDUNSPECIFIEDUNSPECIFIED
Deutscher, ChristianUNSPECIFIEDUNSPECIFIEDUNSPECIFIED
URN: urn:nbn:de:hbz:38-674179
DOI: 10.1093/jleo/ewac006
Journal or Publication Title: J. Law Econ. Organ.
Publisher: OXFORD UNIV PRESS INC
Place of Publication: CARY
ISSN: 1465-7341
Language: English
Faculty: Unspecified
Divisions: Unspecified
Subjects: no entry
Uncontrolled Keywords:
KeywordsLanguage
PROMOTION DYNAMICS; WAGE; TOURNAMENTS; SIZE; DISCRIMINATION; EQUILIBRIUM; EXPERIENCE; TURNOVERMultiple languages
Economics; LawMultiple languages
URI: http://kups.ub.uni-koeln.de/id/eprint/67417

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