Many competitions in life—from innovation races and the assignment of bonuses in the workplace to college admissions and sports—are organized as tournaments. Participants expend effort or other resources and are rewarded based on the ranking of their performance. Those trying the hardest do not always win. While ability certainly plays a role, a nontrivial component…
Tag: microeconomics
Ph.D. Spotlight: Networks and Economic Behavior: Theory and Experiments
We live in a highly connected world and individuals rarely, if ever, make decisions in complete isolation. Rather, our decisions and subsequent outcomes are often influenced by the decisions of others around us. Social, economic, and organizational networks are complex, and, therefore, it is important to understand how the structure of these networks influences behavior….
Wicked Problems, Wicked Solutions 