G2TT
来源类型Discussion paper
规范类型论文
来源IDDP10192
DP10192 Optimal Effort Incentives in Dynamic Tournaments
Armin Schmutzler
发表日期2014-10-12
出版年2014
语种英语
摘要This paper analyzes two-stage rank-order tournaments. A principal decides (i) how to spread prize money across the two periods, (ii) how to weigh performance in the two periods when awarding the second period prize, and (iii) whether to reveal performance after the first period. The information revelation policy depends exclusively on properties of the effort cost function. The principal always puts a positive weight on first-period performance in the second period. The size of the weight and the optimal prizes depend on properties of the observation error distribution; they should be chosen so as to strike a balance between the competitiveness of first- and second-period tournaments. In particular, the principal sets no first-period prize unless the observations in period one are considerably more precise than in period two.
主题Industrial Organization
关键词Dynamic tournaments Repeated contests Information revelation Effort incentives
URLhttps://cepr.org/publications/dp10192
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/539025
推荐引用方式
GB/T 7714
Armin Schmutzler. DP10192 Optimal Effort Incentives in Dynamic Tournaments. 2014.
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