| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12368 |
| DP12368 Optimal Tournaments | |
| Mikhail Drugov; Dmitry Ryvkin | |
| 发表日期 | 2017-10-13 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We study the optimal allocation of prizes and comparative statics of multi-prize rank-order tournaments. For a principal allocating a fixed budget, we show that the winner-take-all (WTA) prize schedule is optimal when the distribution of noise has an increasing failure rate (IFR). For noise distributions with unimodal failure rates the optimal prize allocation moves closer to WTA as the noise distribution becomes smaller in the convex transform order. We also identify a natural ordering of prize schedules by how closely they approximate the WTA schedule and show that for log-concave noise distributions the equilibrium effort is monotone in this order. The impact of noise intensity on equilibrium effort is captured by the dispersive order. |
| 主题 | Industrial Organization |
| 关键词 | Tournament Optimal allocation of prizes Unimodality Failure rate Comparative statics Dispersive order Convex transform order |
| URL | https://cepr.org/publications/dp12368 |
| 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/541179 |
| 推荐引用方式 GB/T 7714 | Mikhail Drugov,Dmitry Ryvkin. DP12368 Optimal Tournaments. 2017. |
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