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competitors according to their ranks. For tournaments with four players we find optimal seedings with respect to three different … ranked teams; 3) maximization of the win probability for the top player. In addition, we find the seedings ensuring that …
Persistent link: https://www.econbiz.de/10005739681
Tournaments consisting of iterative matches are a common mechanism for determining how to allocate a prize. While participants are focused on their own outcomes, tournament organizers often have objectives such as maximizing the total investment or effort by the participants over the course of...
Persistent link: https://www.econbiz.de/10010817395
We study round-robin and elimination tournaments with three players where one player is dominant, i.e., he has a higher value of winning than his weaker opponents. In every stage, a pair-wise match is modelled as an all-pay auction. We demonstrate that the expected payoff of the weak players in...
Persistent link: https://www.econbiz.de/10011084077
We conduct a natural field experiment in a large retail chain to test basic predictions of tournament theory regarding prize spread and noise. A random subset of the 208 stores participates in two-stage elimination tournaments. Tournaments differ in the distribution of prize money across winners...
Persistent link: https://www.econbiz.de/10011279320
This paper tests two hypotheses from the theory of elimination tournaments: (i) that uneven tournaments, where the contestants are ex ante heterogeneous, entail lower effort exertion; this is a prediction from agency theory that has not been tested empirically before; and (ii) whether incentives...
Persistent link: https://www.econbiz.de/10005233835
An elimination tournament matches players pairwise and promotes the winners to a subsequent round where the procedure is repeated. In the presence of idiosyncratic noise the tournament turns into a probabilistic mechanism that reveals the ranking of players imperfectly. I assess theoretically...
Persistent link: https://www.econbiz.de/10005086623
The authors use an extensive and unique data set from the men's professional tennis circuit to test Rosen's sequential elimination style tournament model. Specifically, they investigate what effect an increase in prize money differentials between rounds has on the stronger player's probability...
Persistent link: https://www.econbiz.de/10010778313
We conduct a field experiment in a large retail chain to test basic predictions of tournament theory regarding prize spread and noise. A random subset of the 208 stores participates in two-stage elimination tournaments. Tournaments differ in the distribution of prize money across winners of the...
Persistent link: https://www.econbiz.de/10011256723
We study a non-symmetric variant of General Lotto games introduced in Hart (Int J Game Theory 36:441–460, <CitationRef CitationID="CR7">2008</CitationRef>). We provide a complete characterization of optimal strategies for both players in non-symmetric discrete General Lotto games, where one of the players has an advantage over the...</citationref>
Persistent link: https://www.econbiz.de/10010993352
I consider competitions in which, conditional on winning or losing, the effort exerted by a competitor does not necessarily decrease his payoff. This happens, for example, in competitions for promotions in which workers are intrinsically motivated, and in research and development races in which...
Persistent link: https://www.econbiz.de/10010993377