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This paper examines an apparent contrast in organizing innovation tournaments; seekers offer contestant-agnostic incentives to elicit greater effort from a heterogeneous pool of contestants. Specifically, the study tests whether and how such incentives and the underlying heterogeneity in the contestant pool, assessed in terms of contestants' entry timing, are jointly associated with contestant effort. Thus, the study contributes to the prior literature that has looked at behavioral consequences of entry timing as well as incentives in innovation tournaments.

For hypothesis testing, the study uses a panel dataset of submission activity of over 60,000 contestants observed in nearly 200 innovation tournaments. The estimation employs multi-way fixed effects, accounting for unobserved heterogeneity across contestants, tournaments and submission week. The findings remain stable across a range of robustness checks.

The study finds that, on average, late entrant tends to exert less effort than an early entrant (H1). Results further show that the effort gap widens in tournaments that offer higher incentives. In particular, the effort gap between late and early entrants is significantly wider in tournaments that have attracted superior solutions from several contestants (H2), offer gain in status (H3, marginally significant) or offer a higher monetary reward (H4).

The study's findings counter conventional wisdom, which suggests that incentives have a positive effect on contestant behavior, including effort. In contrast, the study indicates that incentives may have divergent implications for contestant behavior, contingent on contestants' entry timing. As the study discusses, these findings have several implications for research and practice of managing innovation tournaments.

This paper aims to summarize antecedents and consequences of risk-taking in tournaments and show the development of tournament optimization considering risk-taking. Moreover, further expansion expectations related to antecedents and consequences of risk-taking in tournaments and tournament optimization considering risk-taking are discussed.

A comprehensive bibliographic retrieval and further literature review and systematics re-organization are used to build the framework with respect to risk-taking in tournaments. Then, qualitative analysis is used to present conclusions of existing research.

By summarizing various antecedents, different consequences and tournament optimizations with regard to risk-taking in tournaments of existing research, the authors present a series of research opportunities regarding risk-taking in tournaments that can propel the advancement of tournament theory.

The studies on risk-taking in tournament have been recently received wide attention and are growing vigorously. Based on the summary and re-organization, the framework of literature studying risk-taking in tournaments is built. This literature review also helps researchers learn the advance of risk-taking in tournament and provides fruitful direction for future research on this topic.

An aspect of prospect theory posits that decision‐makers, when making decisions in the face of risk, make their decisions with respect to a pre‐existing reference point or ‘frame’ (the statusquo bias). We utilize data from the Australian version of the TV game show, Deal or No Deal, to explore whether risk aversion varies with a change in reference point in a context where stakes are real and high.We achieve this by exploiting a special and unique Australian feature of the Deal or No Deal lottery‐choice setting, namely, the existence of the Chance or the SuperCase rounds (supplementary rounds). These rounds reverse the decision‐frame that was obtained in earlier (normal) rounds. We fit and estimate a complete dynamic decision‐making model to our dataset and find that the risk aversion estimate of contestants who participated in both the normal and the supplementary rounds indeed differs depending on the nature of the round, a result consistent with the operation of the existence of a framing effect.

The authors believe that comparing individuals to groups' decision making is crucial provided that many important choices in society are made by groups, i.e. committees, governing bodies, juries, business partners and families. This study aims to discuss the aforementioned topic.

The authors analyze risky decision making in the context of the television game show Deal or No Deal – Italian edition. Specifically, the authors scrutinize and compare individual (standard “Deal or No Deal” edition) and group (special edition) choices in the risky choice context provided by programe.

After analyzing contestant's behavior in the standard edition episodes plus a special edition the authors calculate a risk index observing that no statically significant difference is present between individuals' and groups' actions.

In the “Deal or No Deal” special edition contestant were groups of two strangers. It is not uncommon to have couples playing on TV, however the individuals usually know each other well and have relationships in real life. The special edition therefore provides a unique setting (absent to best of the authors’ knowledge in the literature) for investigation and could offer real-world insight. Indeed, in many instances the authors have to contract/make decisions with people the authors do not know/know very little (i.e. occasional business partners, representative at other companies/institutions, insurance/finance advisors, new work colleagues, etc.).

There is sufficient empirical evidence to suggest that discrimination, defined as absence of equal opportunities, exists before the market as well as in the market against certain social categories in India. Inequality in access to sources of human capital acquisition reinforces inequality in the labour market and vice versa. Apparently, caste‐community discrimination and class discrimination overlap. However, in the case of socially deprived categories, the latter accentuates the former. The impact of modernisation notwithstanding, the inegalitarian sacral tradition of caste still has strong hold over the minds and lives of Indians. The development processes have strengthened caste and community consciousness resulting in the metamorphosis of different social categories into interest groups. With patron‐client relationship as the basis for political mobilization, development policies have favoured the dominant social categories as well as the articulate better‐off sections across all social categories. So it seems that “divinely ordained” social inequities persist in a secular garb, though possibly with reduced inhumanity. Yet, with increasing political assertion of the lower social categories and widening opportunities for social mobility, hegemony of the traditional elite is likely to decline. The change in the composition of the elite should foster non‐brahmanical pragmatic cultural ethos conducive to social mobility and development. The policies designed to promote equal opportunities, taking into account heterogeneity of Indian society, will speed up the process of socio‐economic change.

Analysis of management compensation has focused on the principal — agent problem. We address the problem confronting owners who must choose a manager without knowing the productivity of individual managers. We find performance contingent contracts may result in a separating equilibrium in which high productivity managers accept contracts low productivity managers find unacceptable.

The purpose of this paper is to explore the impact of directors’ remuneration on the firm’s intrinsic and extrinsic value.

The paper provides a brief review of the literature on directors’ remuneration and identifies the current knowledge on the relationship between profit sharing or directors’ remuneration and the firm’s performance. In addition, correlation analysis between the directors’ compensation and various parameters measuring the firm’s performance is done.

From an investor’s viewpoint, the performance indicators indicated no significant relation of the increase in the firm’s performance with the increase in directors’ remuneration. But, from the accounting viewpoint, there exists a positive correlation between the two. Therefore, the directors’ remuneration adds to the intrinsic value of the firm, but does not contribute significantly to the extrinsic value of the firm.

Future research could encompass a larger sample of companies. Also, a comparison could be done for the companies for periods before and after the modification of Clause 49 post-Satyam fiasco. The present study is done after a short period of the modification to the Clause 49.

The study provides a unique examination of remuneration of the board of directors and the firm’s performance. It studies the impact of the directors’ remuneration and its impact on firm’s performance. The study encompasses an exhaustive analysis for the emerging market, namely, India. The research studies 40 companies, which are unique from each other and explores the relation. It explores four parameters studying both the intrinsic and extrinsic values of the firm.

The purpose of the paper is to develop and test a psychometrically valid scale for musical intelligence as an individuating variable. This scale can elicit individual differences on reactions to sonic branding stimuli such as audio logos, radio jingles and commercial music.

A two-step confirmatory factor analysis followed by structural equation modeling was used to develop and test the scale. Data were collected across three studies consisting of 470 participants. The scale was developed and nomologically validated.

Findings suggest that musical intelligence discriminates reactions to music as evidenced by the three component conceptualization of musical intelligence.

This study offers an original, three-component conceptualization of musical intelligence, proposes a measurement scale and then presents evidence of construct validity. Finally, the paper discusses potential applications of the scale in personality research.

By mobilizing the empirical setting of a megaproject, this study problematizes public budgeting as participatory practice. The authors suggest that megaprojects are prone to democratic legitimacy challenges due to a long history of cost overruns, which provides stakeholders with a chance to dramatize a budgetary controversy.

Through article and document data, the authors reconstructed a controversy that emerged around the budget of Stockholm/Åre’s candidature for the Olympic Winter Games 2026. The authors used Boltanski and Thévenot's (2006) orders of worth to systematically analyze the justification work of key stakeholder groups involved in the controversy.

This study illustrates that a budgetary controversy was actively maintained by stakeholder groups, which resulted in a lack of public support and the eventual demise of the Olympic candidature. As such, the authors provide a more nuanced understanding of public budgeting as a controversy-based process vis-à-vis a wider public with regard to the broken institution of megaprojects.

This study suggests more attention to the disruptive power of public scrutiny and the dramatization of budgeting in megaprojects. In this empirical case, the authors show how stakeholders tend to take their technical concerns too far in order to challenge a budget, even though megaprojects generally provide an ill-suited setting for accurate forecasts.

While studies around the financial legacies of megaprojects have somewhat matured, very few have looked at pitching them. However, the authors argue that megaprojects are increasingly faced with financial skepticism upon their approval upfront.

Attempts to prove, in this second chapter of the author’s monograph, that with a new research programme, it is possible to build a methodological bridge between economics and all other natural sciences and the scientists should address this challenge. Reviews basic principles that govern nature, including Einstein’s findings along with such luminaries as Copernicus, Newton, Galileo and Jeans. Concludes that the future is safe, as a new generation of scientists is now emerging in the East and the West, and that the new methodology should provide enough space for new roads, ideas and interpretations, which may occur in the future. Closes by saying a new spirit should be initiated in economics and transplanted into natural sciences.