Vardy, F.

profession promotion e ¤ort promotion bene …ts promotion opportunities individual model ability talent opportunity base wage profession 2 equilibrium meritocracy meritocratic benchmark model performance hazard rate meritocratic profession proposition result agent change increase sector e ¤ect profession i profession 1 su ¢ ciently distribution noise bene …t benchmark laplace model standard incentive hazard profession 1. e ¤ort x number selection contest di ¤er bene …ts chance level work culture evaluation talent pool di ¤erences condition literature e ¤ects laplace promotion standards performance evaluation profession 2. section speci …cally culture university policy service study output value ciently … elds ¤erence function system career paper threshold cost-bene …t ratio payo ¤s ¤ective economic spoils system individuals sort