Tim Bond

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Jim Rebitzer2
Niko Matouschek2
2Jim Rebitzer
2Niko Matouschek
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Firms' organizational structures impose constraints on their ability to use promotion-based incentives. We develop a framework for identifying these constraints and exploring their consequences. We show that …rms manage workers careers by choosing personnel policies that resemble an internal labor market. Firms may adopt forced-turnover policies to keep(More)
Very Preliminary-Please do not circulate without permission. Abstract This paper investigates the optimal personnel policies when careers in organizations are important. Our model extends classic Shapiro and Stiglitz e¢ ciency-wages model to allow for multiple jobs within an organization. Organizations make hiring-, demotion-, promotion-, retention-, and(More)
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