Inefficient competition in shadow-education investment
Journal of Economic Behavior & Organization(2017)
摘要
•Competition for premier jobs can result in a socially inefficient effort competition.•Widening wage gap may exacerbate wasteful effort competition.•Widening productivity/affordability gap tends to encourage the benefitting player and discourage the other.•Competition enhances efficiency if the productive player’s effort becomes less costly.•In all cases, the less productive player bears the larger share of social inefficiency.
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关键词
C72,D60,I20,J30,P5
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