Explain the tournament view of compensation. Would a tournament be more effective if CEOs were hired from people working at the firm or were hired from anyone, those working at the firm or at any other firm? Is there an economic reason that CEOs are given huge compensation packages when they are fired? Could the reason be corruption on the part of Boards of Directors and CEOs? Look up planned obsolescence online and then make a case for and against planned obsolescence in competitive markets
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