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dc.contributor.authorClark, Derek John
dc.contributor.authorNilssen, Tore
dc.contributor.authorSand, Jan Yngve
dc.date.accessioned2020-08-18T11:58:43Z
dc.date.available2020-08-18T11:58:43Z
dc.date.issued2020-03-20
dc.description.abstractWe consider a principal who faces many identical competitors, and who can distribute a prize fund over two consecutive contests. The winner of contest one gains an advantage in contest two where his effort is more productive than all rivals. We identify a tipping point for the productivity parameter, below which it is optimal for an effort-maximizing principal to place the whole prize in the second contest. Above this level, a single symmetric contest is preferred. The institution chosen depends inextricably upon the number of competitors and their valuation of future gains and costs. We identify the optimal setting of the productivity parameter, showing that introducing asymmetry can increase total efforts by as much as one quarter compared to a single symmetric contest.en_US
dc.identifier.citationClark, Nilssen, Sand. Gaining advantage by winning contests. Review of Economic Design. 2020;24:23-38en_US
dc.identifier.cristinIDFRIDAID 1819371
dc.identifier.doi10.1007/s10058-020-00229-0
dc.identifier.issn1434-4742
dc.identifier.issn1434-4750
dc.identifier.urihttps://hdl.handle.net/10037/19024
dc.language.isoengen_US
dc.publisherSpringeren_US
dc.relation.journalReview of Economic Design
dc.relation.projectIDNorges forskningsråd: 179552en_US
dc.relation.projectIDinfo:eu-repo/grantAgreement/RCN/SFF/179552/Norway/Centre for the study of Equality, Social Organization and Performance, ESOP//en_US
dc.rights.accessRightsopenAccessen_US
dc.rights.holderCopyright 2020 The Author(s)en_US
dc.subjectVDP::Social science: 200::Economics: 210en_US
dc.subjectVDP::Samfunnsvitenskap: 200::Økonomi: 210en_US
dc.titleGaining advantage by winning contestsen_US
dc.type.versionpublishedVersionen_US
dc.typeJournal articleen_US
dc.typeTidsskriftartikkelen_US
dc.typePeer revieweden_US


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