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Leaders and Challengers in an Organization: an Economic Analysis

Student: Zyuzin Alexander

Supervisor: Sergey Stepanov

Faculty: Faculty of Economic Sciences

Educational Programme: Economics: Research Programme (Master)

Year of Graduation: 2018

This thesis is dedicated to the analysis of interactions between leaders and challengers in commercial organizations. The main question we asked was to find out if there might exist a situation, when the leader would optimally choose a challenger with the most precise signal. The leader's trade-off is as follows: from the one hand she has reputation concerns and strong challenger would damage them, from the other hand, precise challenger diminish the ex-ante incentives for bluffing pretending a high type CEO, thus a better equilibrium in terms of profit will be played. The main result of this research is that such situation, when leader would optimally choose the most precise challenger out of all possible exists and we describe the circumstances, when it may appear.

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