Skill, Value and Remuneration in Committees
Relatively modest difference in individual decisional skills may warrant substantial inequality in personal remunerations. This implies that the return on investment in decisional skills may be very high. These claims are illustrated applying the uncertain dichotomous choice setting while clarifying the complex relationship between the individual skills, the individual optimal decisional weights and the skill-dependent values, i.e., the individual probabilities to be pivotal.
Shmuel Nitzan(a), (b)
|Affiliation:||(a) Department of Economics, Bar Ilan University, Ramat Gan 52900, Israel
(b) Hitotsubashi Institute for Advanced Study, Hitotsubashi University, Tokyo, Japan
|Issued Date:||November 2018|
|Keywords:||decisional skills, optimal decisional weights, skill-dependent power, remuneration|
|Links:||PDF, HERMES-IR, RePEc|