- players is high or low, while the most efficient team of the tournament is not affected by the wage structure. The U …

between the agents and thus creates a distortion of efficiency in the coalition. We employ a simple tournament setting where …

-order tournament. Perceived entitlements are sensitive to how hard an agent has worked relative to her rival, and agents are loss … averse around their meritocratically determined endogenous reference points. In a fair tournament sufficiently large desert … average. In an unfair tournament, where one agent is advantaged, the equilibrium is symmetric in the absence of desert, but …

players improve the performance of four teams which participate in a tournament, such as in the UEFA Champions League (UCL …

This experiment compares the performance of two contest designs: a standard winner-take-all tournament with a single …-take-all tournament. The proportional-prize contest performs better by limiting the degree to which heterogeneity among contestants …

We study a symmetric free entry oligopoly in which firms produce differentiated goods so as to maximize their relative …