近日，新加坡国立大学傅强教授、加拿大康考迪亚大学（Concordia University）李明教授与中国人民大学经济学院乔雪教授合作论文“On the Paradox of Mediocracy”在Journal of Economics and Management Strategy正式发表。

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内容摘要

We consider a two‐agent hierarchical organization with a leader and a specialist in a reputation‐signaling model. The specialist proposes an innovative but risky project to the leader, and decides whether to exert an effort to improve the value of the project, which benefits the organization. The leader decides whether to endorse the project or block it. The leader's competence is her private information, and the market updates its belief about the leader's type based on observation of her action (endorsing the project or blocking it) and its outcome. In equilibrium, the leader could behave excessively conservatively when she is subject to reputation concerns. We have two main findings. First, aside from its usual distortionary effects, the leader's reputation concern has a beneficial effect by inducing the specialist to supply productive effort and improves the organization's performance. Second, there exists a nonmonotonic relationship between the perceived competence of the leader and the performance of the organization. As a result, a paradox of mediocracy emerges: The organization may benefit from a seemingly mediocre leader, as a mediocre leader motivates the specialist to exert effort, which offsets the efficiency loss due to incorrect decisions.

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作者简介

乔雪，中国人民大学经济学院教授，博士生导师，兼任中国运筹学会博弈论专业委员会第四届理事，中国人民大学“杰出学者”。主要从事劳动力资源配置与经济增长，数字经济，制度与经济发展方面的研究，在《经济研究》《世界经济》《金融研究》《经济学》（季刊），International Economic Review, Journal of Public Economics, Journal of Economic Behavior and Organization, Journal of Economic Dynamics and Control, Journal of Economic Management and Strategy, Macroeconomic Dynamics, Journal of Comparative Economics等期刊发表论文数十篇, 出版专著《宏观劳动力资源配置与经济增长》。主持国家社科重大基金，国家自科重大基金子课题，国家自科面上基金2项，国家自科青年基金1项，两度获国家自科项目结题评估“优”，合作论文获评2019-2020年度《经济学》（季刊）唯一最佳论文奖。国家自科基金通讯评委，香港大学硕士项目外部评审专家，Review of Economic Studies, Quarterly Journal of Economics, International Economic Review, Journal of Development Economics,《经济研究》《世界经济》《经济学》（季刊）等期刊匿名审稿人。

来源：“中国人民大学经济学院”微信公众号

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