Other arguments have been raised to explain the existence of high executive salary, but they are not ethical justifi cations. An example is the claim that executive salaries are an example of “the economics of superstars”. Th ere are some fi elds, notably sporting, arts and entertainment, where “superstar” performers may earn rewards far greater than the average for that fi eld. Th e potential incomes in these fi elds have the character of prizes in a tournament, with a comparatively small number of prizes rela- tive to the number of competitors. It has been recognized in economic analysis.
