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This paper analyzes contests where contestants have private information about their abilities, and these abilities may be correlated. It differs from previous work chiefly in that it allows for such imperfect correlation, and that it restricts attention to a discrete output space. The latter...
Persistent link: https://www.econbiz.de/10009208969
We provide a characterization of participants' behavior in a contest or tournament where the marginal productivity of effort varies across contestants and individual productivity is private information. We then consider the optimal design of such a contest. <p>We first analyze contestant behavior...</p>
Persistent link: https://www.econbiz.de/10005596658
This paper examines the implementability of social choice functions when only partial verification of private information is possible. Green and Laffont (1986) used this framework to derive a necessary and sufficient condition for the revelation principle to continue to hold with partial...
Persistent link: https://www.econbiz.de/10005178678
The standard evolutionary explanation for depression is that being emotionally depressed is adaptive. We argue that being depressed is not adaptive (indeed, quite the opposite), but that the threat of depression for bad outcomes and the promise of pleasure for good outcomes are adaptive because...
Persistent link: https://www.econbiz.de/10010369491
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The standard evolutionary explanation for depression is that being emotionally depressed is adaptive. We argue that being depressed is not adaptive (indeed, quite the opposite), but that the threat of depression for bad outcomes and the promise of pleasure for good outcomes are adaptive because...
Persistent link: https://www.econbiz.de/10009629011
Persistent link: https://www.econbiz.de/10001615029
Persistent link: https://www.econbiz.de/10007173466