Denrell, Jerker (2011) Are the highest performers the most impressive? In: Subjective Probability, Utility and Decision Making (SPUDM), August 2011, Kingston, UK.Full text not available from this repository.
The relation between performance and ability is a central concern in discussions of imitation and learning - should we imitate and learn from the highest performers? Past research has shown how rich-get-richer dynamics, combined with noise, can produce a weak or even non-existent association
between performance and ability. Still, if performance and ability are positively correlated, it makes sense to imitate the highest performers. Using a simple formal model we show that noise can lead to a more counter-intuitive e�ffect: performance and ability can be negatively associated for high levels of performance. The implication is that the highest performers are not the most impressive - instead, agents with moderately high performance are expected to
have the highest ability. Our model o�ers an alternative explanation for why exceptional performance seldom lasts and suggests that people who assume that higher performers are better may systematically mistake luck for skill.
|Item Type:||Conference or Workshop Item (Paper)|
|Keywords:||Performance; Ability; Models|
|Subject(s):||Strategy; Entrepreneurship & Global business|
|Centre:||Faculty of Strategy, Entrepreneurship and International Business|
|Date Deposited:||17 Mar 2012 21:49|
|Last Modified:||23 Oct 2015 14:06|
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