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- W3122710094 abstract "We show that too much meritocracy, modeled as accuracy of performance ranking in contests, can be a bad thing: in contests with homogeneous agents, it reduces output and is Pareto inefficient. In contests with sufficiently heterogeneous agents, discouragement and complacency effects further reduce the benefits of meritocracy. Perfect meritocracy may be optimal only for intermediate levels of heterogeneity." @default.
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- W3122710094 date "2018-01-01" @default.
- W3122710094 modified "2023-09-23" @default.
- W3122710094 title "The Limits of Meritocracy" @default.
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- W3122710094 doi "https://doi.org/10.2139/ssrn.3216950" @default.
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