David Lagziel
Performance Cycles
Lagziel, David; Lehrer, Ehud
Abstract
A decision maker repeatedly exerts efforts to produce new outputs, while being compensated based on his past and current production levels. We show that the decision maker’s optimal strategy dictates a cyclic oscillatory performance whenever the compensation depends on recent past performance. We apply our model to various economic settings such as the delegated portfolio-managers problem, an R&D investment problem, and a dynamic advertising problem.
Journal Article Type | Article |
---|---|
Acceptance Date | Jul 24, 2023 |
Online Publication Date | Aug 25, 2023 |
Publication Date | 2023 |
Deposit Date | Aug 15, 2023 |
Publicly Available Date | Aug 26, 2024 |
Journal | Economic Theory |
Print ISSN | 0938-2259 |
Electronic ISSN | 1432-0479 |
Publisher | Springer |
Peer Reviewed | Peer Reviewed |
DOI | https://doi.org/10.1007/s00199-023-01516-x |
Public URL | https://durham-repository.worktribe.com/output/1718295 |
Publisher URL | https://www.springer.com/journal/199 |
Files
This file is under embargo until Aug 26, 2024 due to copyright restrictions.
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