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WP-20-008.pdf

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/90522 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/90522 http://eprints.org/relation/issmallThumbnailVersionOf https://pure.iiasa.ac.at/id/document/90522 90527 1 262046 document 90527 indexcodes.txt text/x-c e45712c2d70cfc0c6f1a1b7ad1f35fa5 MD5 12744 2020-06-09 07:10:16 https://pure.iiasa.ac.at/id/eprint/16508/6/indexcodes.txt 16508 6 6 text/x-c other Generate index codes conversion from text to indexcodes en public

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/90522 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/90522 http://eprints.org/relation/isIndexCodesVersionOf https://pure.iiasa.ac.at/id/document/90522 archive 353 disk0/00/01/65/08 2020-06-09 07:03:53 2021-08-27 17:33:07 2020-06-09 07:03:53 monograph show 2 Feichtinger G. Grass D. 2248 Kort P.M. Seidl A. Elena Rovenskaya, Program Director Advanced Systems Analysis pub prog_asa optimal control, history-dependent solution, abnormal solution, career planning,Matthew effect The observation that a socioeconomic agent with a high reputation gets a disproportionately higher recognition for the same work than an agent with lower reputation is typical in career development and wealth. This phenomenon, which is known as Matthew effect in the literature, leads to an increasing inequality over time. The present paper employs an optimal control model to study the implications of the Matthew effect on the optimal efforts of a scientist into reputation. The solution of the model exhibits, for suffiently low effort costs, a new type of unstable equilibrium at which effort is at its upper bound. This equilibrium, which we denote as Stalling Equilibrium, serves as a threshold level separating success and failure in academia. In addition we show that at the Stalling Equilibrium the solution can be abnormal. We provide a clear economic interpretation for this solution characteristic. 2020-06-09 published WP-20-008 3151 public working_paper Laxenburg, Austria FALSE no info:eu-repo/semantics/book