consensus value is discussed.Finally, two applications of the consensus value are given: one is for oligopoly games in partition …

such doping within a tournament game between two heterogeneous players. Three major effects are identified which determine …

assuming the principal to be unable to commit to a certain policy at the beginning of the tournament. Our analysis shows that …

- 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 …

differences in betting odds or rankings to measure ability differences, our results support standard tournament theory as we find …

abilities. This, in turn, has adverse consequences for who might want to participate in a tournament. Since better contestants … anticipate that they will be sabotaged more strongly, it may happen that the most able stay out and the tournament selects one of …