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CEO Pay and the Lake Wobegon Effect

SSRN Electronic Journal, 2008
The "Lake Wobegon Effect," which is widely cited as a potential cause for rising CEO pay, is said to occur because no firm wants to admit to having a CEO who is below average, and so no firm allows its CEO's pay package to lag market expectations. We develop a game-theoretic model of this Effect.
Rachel M. Hayes, Scott Schaefer
openaire   +1 more source

Lake Wobegon Days (Book).

The Accounting Review, 1986
Abstract Reviews the book "Lake Wobegon Days," by Garrison Keillor.
Harvey S. Hendrickson, null H. S. H.
openaire   +1 more source

The Road to Lake Wobegon

Journal of Social Philosophy, 1999
Etude de la conception pacifique (peacemaking) de l'activite philosophique developpee par J. Sterba dans son ouvrage intitule «Justice for Here and Now» (1998), ou il offre une justification de la morale comme compromis entre l'egoisme et l'altruisme extremes.
openaire   +1 more source

A Cultural Geography of Lake Wobegon

Howard Journal of Communications, 1998
This study, a cultural analysis of Lake Wobegon monologues recorded from public radio between October, 1993, and February, 1995, shows how Garrison Keillor's vision of the characters, values, and landscape of this small Midwestern town can be examined within a broader cultural/political context to show how it is subsumed within the larger, more ...
exaly   +2 more sources

The Lake Wobegon Effect: A Skeleton in the Testing Closet?

Educational Measurement: Issues and Practice, 1988
In this article, officials of the U.S. Department of Education explain what they think of the “Lake Wobegon” phenomenon brought to widespread attention by Dr. Cannell– and what the Department is doing about it.
Chester E. Finn, Jr.
exaly   +2 more sources

Compensation and risk: A perspective on the Lake Wobegon effect

Journal of Banking and Finance, 2019
Abstract We investigate an alternative economic channel of a positive relationship between risk and compensation, as documented by Cheng et al. (2015). We propose that when information asymmetry exists, firms generally seek to use compensation as a signal of their CEOs’ ability.
Jinqiang Yang, Zhentao Zou
exaly   +2 more sources

A Framework for Reconsidering the Lake Wobegon Effect

The Journal of Economic Education, 2008
The Lake Wobegon Effect (LWE) describes the potential measurement-error bias introduced into survey-based analyses of education issues. Although this effect potentially applies to any student-report variable, the systematic overreporting of academic achievements such as grade point average is often of preeminent concern.
Marianne Johnson   +2 more
openaire   +1 more source

Wobegonian Modesty and Garrison Keilor’s Lake Wobegon Days [PDF]

open access: possible, 2012
The humble Midwestern town also survives on modesty and a range of satellite sentiments and postures, depending very much on them in Garrison Keillor’s 1985 book Lake Wobegon Days. It is, firmly, a work of pastoral—a literary representation of social, emotional, and aesthetic dualities and tensions in the frame, or in mind, of rural or regional place ...
openaire   +1 more source

Sea-Floor Depth and the Lake Wobegon Effect

Science, 1997
The ways in which actual measurements of sea-floor depth differ from average depths predicted by models of the solid Earth may provide useful information about how the planetary heat engine works. Actual depth is a function of plate tectonics and planetary heat flow. As S. Stein and C.
Seth Stein, Carol A. Stein
openaire   +1 more source

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