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Much economic thinking is moving away from "tournament theory" – the idea that the market for CEOs is a "winner takes all" one and that in their effort to become better and better paid, they stimulate all those around them to increased productivity.
Economists call this "tournament theory".
However, the tournament theory about promotion lacks vision, empirical bases, and explanation power.
Our evidence overall supports the team-cohesiveness hypothesis over the tournament theory.
We examine whether the tournament theory or the team-cohesiveness hypothesis dominates the relationship.
Finally, tournament theory also helps to explain why insiders, not outsiders, get cushy jobs.
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Ian Poulter had been the only one to go public with what was a widely held pre-tournament theory that Woods was incapable of finishing in the top five here.
Some scholars use the promotion-tournament theory to explain it.
For example, Brilliant is currently running a theory programming tournament called Hunger Games.
Adams did not succeed in demonstrating the validity of his theory in tournament and match practice.
Asked why so many first-time winners had broken through this year, including the last three tournaments, Burns had a theory.
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