The Limits of Meritocracy

The Limits of Meritocracy
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... READ MORE...

Publication date: November 2018
ISBN 9781484381175
$18.00

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