Memorandum,
Oslo University, Department of Economics

Abstract: Rank order tournaments are often presented as incentive devices: a tournament in which the hardest working individual gains promotion to the next level in a firms' hierarchy may induce workers to exert extra effort for example. In this paper, we consider a tournament in which workers are expected to be heterogenous, so that the principal cares about who is promoted, worker ability is, however, unknown to the principal.

Keywords: ENTREPRISES; WORKERS; PROMOTION

JEL-codes: J41; C72

19 pages, 1996

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