Strategic Promotion and Compensation
研究企业层级结构中，员工技能构成和能力不可观测性如何影响工资和晋升路径，发现雇主会策略性利用对高能力员工的了解导致晋升低效，并解释了快速晋升等现象。
Within a hierarchical firm structure, this paper details how the composition of a worker's skills and the non-observability of a worker's ability affect wage and promotion paths. Promotion-based compensation schemes derive naturally from the worker's asymmetrically observed ability. Promotion takes place over time and is inefficient since employers strategically exploit their knowledge of an able worker's ability. Conversely, employers may be unable to efficiently demote and retain bad managers without paying bonuses. Employers are led to promote educated employees before their equally or more able, but uneducated, counterparts. Explanations for fast-track promotions plans, and other empirical regularities are provided.