search query: @journal_id 1275 / total: 203
reference: 72 / 203
| Author: | Sobel, J. |
| Title: | On the dynamics of standards |
| Journal: | RAND Journal of Economics
2001 : WINTER, VOL 32:4, p. 606-623 |
| Index terms: | Models Standards Economic theory Employees |
| Language: | eng |
| Abstract: | In the paper, a two-parameter family of rules governing the process of entry into a club is studied. There are three types of agents: 1. candidates desire to enter the club, 2. judges vote on who should enter, and 3. elite are already in the club. Promotion requires that at least n of N judges agree that a candidate is at least as good as r of the R members of the elite. Candidates minimize the cost of acquiring a D-dimensional characteristic subject to satisfying the promotion criteria. The article characterizes how minimum entry standards change over time under different assumptions. |
SCIMA