| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5602 |
| DP5602 Pricing Risk in Economies with Heterogenous Agents and Incomplete Markets | |
| Josep Pijoan-Mas | |
| 发表日期 | 2006-03-29 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | This paper proposes a rule to determine the winner of a soccer match which is different from the traditional penalty shoot-outs at the end of extra time. We show that games can be more attractive if penalties are shot before extra time and the outcome counts only if the tie is preserved during extra time. In general, this rule will promote offense by the team that loses the penalty shoot-outs and it will promote defense by the team that wins the penalty shoot-outs. We provide conditions on the marginal effect of offensive play in the probabilities of scoring and conceding a goal such that the proposed rule dominates the current one. Last, we determine a class of functions that satisfies these conditions. More generally, the paper shows how the ordering of tasks may affect the incentives to exert and allocate effort. |
| 主题 | Public Economics |
| 关键词 | Sports economics Effort allocation Implicit incentives |
| URL | https://cepr.org/publications/dp5602 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534450 |
| 推荐引用方式 GB/T 7714 | Josep Pijoan-Mas. DP5602 Pricing Risk in Economies with Heterogenous Agents and Incomplete Markets. 2006. |
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