The Second-Tier Trap: Theory and Experimental Evidence
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DOI: 10.1111/ijet.12158
Abstract: Winner‐take‐all competitions can lead to the person in the second‐tier (middle‐tier) environment having the worst expected payoff when players exclusively choose their environment and exert effort before their random, heterogeneous environmental supports are realized. The… read more here.
Keywords: tier trap; theory; second tier; environment ... See more keywords