Asian-Pacific ESA Conference, Taipei, 16-18 February, 2017

The 3rd International Academic Conference on Social Sciences and Management. 24-26 May, 2017. Bangkok

Steffen Altmann, Armin Falk, Matthias Wibral. Promotions and Incentives: The Case of Multistage Elimination Tournaments

Promotions play an important role for the provision of incentives in firms. We analyze incentives in multistage elimination tournaments with controlled laboratory experiments. In our two main treatments, we compare a two-stage tournament to a one-stage tournament. Subjects in the two-stage treatment provide excess effort in the first stage, both with respect to Nash predictions and compared to the strategically equivalent one-stage tournament. Additional control treatments confirm that excess effort in early stages is a robust finding and suggest that above-equilibrium effort might be driven by li ...


Michael Wolf

Ph.D. in Statistics, Stanford University. Full Professor, University of Zurich. He works in direction of Econometrics and Applied Statistics in Department of Economics at University of Zurich. Researc...

Most recent, most viewed

Jess Benhabib, Boyan Jovanovic. Externalities And Growth Accounting

We reexamine several bodies of data on the growth of output, labor, and capital, within the context of a model that admits the possibility of an externality to the capital input. The model is an aug...


Eva Ranehill, Frédéric Schneider, Roberto A. Weber. Growing Groups, Cooperation, and the Rate of Entry

We study the stability of voluntary cooperation in response to varying group growth rates. Using a laboratory public-good game, we construct a situation where increasing group size yields potential ...


Olivier Ledoit, Michael Wolf. Optimal Estimation of a Large-Dimensional Covariance Matrix under Stein’s Loss.

This paper revisits the methodology of Stein (1975, 1986) for estimating a covariance matrix in the setting where the number of variables can be of the same magnitude as the sample size. Stein propose...


Mara Ewers, Florian Zimmermann. Image and Misreporting.

In this paper we ask if reports of private information about skills, abilities or achievements are affected by image concerns. We develop a simple model that illustrates how image utility can lead t...


Hazel Henderson. Development Beyond Economism: Local Paths to Sustainable Development.

The effects of the forces of industrialism and economism, foretold so well by E. F. Schumacher, have led to a revolution of unprecedented scope. Technologies and human activities now bring about m...


Michael Wolf, Dan Wunderli. Bootstrap Joint Prediction Regions

Many statistical applications require the forecast of a random variable of interest over several periods into the future. The sequence of individual forecasts, one period at a time, is called a path...



Laboratory of mathematical models of decision-making at Sobolev Institute of Mathematics of Russian Academy of Sciences