Big Fish in Small (and Big) Ponds: A Study of Careers
研究有才华的工人（大鱼）为何选择竞争激烈的大公司（大池塘）或晋升前景更好的小公司（小池塘），并解释两种组织中工人能力、高管工资和就业规模的差异。
Abstract Talented, ambitious workers (big fish) often join highly competitive organizations (big ponds), though they sometimes instead choose less competitive organizations (small ponds) offering brighter promotion prospects. Big fish exist in both types of organizations, though average worker ability is higher in big ponds. Top executives enjoy higher wages in big ponds. Choosing a big pond allows workers to signal high ability. Workers sometimes overestimate or underestimate their abilities, choosing the wrong pond. Big ponds tend to be larger in total employment. All of the preceding phenomena are shown to be consistent with equilibrium in a new theoretical model of careers.