The pay for journalists is quite varied.A top-tier journalist often receives a steady flow of assignments,such as two weekly columns,and so earns generous pay.A lower-tier journalist,however,often experiences sporadic work assignments with little to no pay.What economic theory explains this situation?

Question

Quizplus · Accepted Answer

The winner-take-all theory suggests that in some industries, such as journalism, a small number of individuals or organizations receive a disproportionate share of the rewards, while the majority receives little to none. This can lead to a large income gap between top-tier and lower-tier journalists.

The Pay for Journalists Is Quite Varied