On the value of relative comparisons in firms

In a principal–agent model, we find that firms may not always benefit from the relative concerns of agents if such concerns are heterogeneous. Further, accounting for the influence of the environment on such concerns, profits are reduced relative to the no-comparisons benchmark. •In a principal–agen...

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Bibliographic details
Volume: 124
Main Author: Ramalingam, Abhijit
Format: Journal Article
Language: English
Place of publication: Elsevier B.V 01.09.2014
published in: Economics letters Vol. 124; no. 3; pp. 446 - 448
Data of publication: September 2014
ISSN: 0165-1765
EISSN: 1873-7374
Discipline: Economics
Online Access: Fulltext
Database: ScienceDirect Open Access Titles
Elsevier:ScienceDirect:Open Access
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