Abstract
Relatively modest difference in individual decisional skills may warrant substantial inequality in personal remunerations. This implies that the return on investment in decisional skills may be very high. These claims are illustrated applying the uncertain dichotomous choice setting while clarifying the complex relationship between the individual skills, the individual optimal decisional weights and the skill-dependent values, i.e., the individual probabilities to be pivotal.
Original language | English |
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Pages (from-to) | 93-95 |
Number of pages | 3 |
Journal | Economics Letters |
Volume | 174 |
DOIs | |
State | Published - Jan 2019 |
Bibliographical note
Publisher Copyright:© 2018 Elsevier B.V.
Keywords
- D7
- Decisional skills
- Optimal decisional weights
- Remuneration
- Skill-dependent power