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Many sales, sports, and research contests are put in place to maximize contestants’ performance. We investigate and … contestants may be ex-ante asymmetric in their abilities and prize valuations, and there may be complete or incomplete information …
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In a centralized marketplace that was designed to be simple, we identify participants whose choices are dominated. Using administrative data from Hungary, we show that college applicants make obvious mistakes: they forgo the free opportunity to receive a tuition waiver worth thousands of...
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