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by Bénabou and Tirole (2016), we demonstrate that rankings can reduce welfare distortions of optimal screening contracts …
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Academic economists today are caught in a Publication Impossibility Theorem System" or PITS. To further their careers …
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We analyze a two-stage game between two heterogeneous players.At stage one, common risk is chosen by one of the players. At stagetwo, both players observe the given level of risk and simultaneouslyinvest in a winner-take-all competition. The game is solved theoreticallyand then tested by using...
Persistent link: https://www.econbiz.de/10009354148
essential for the rationalization of (efficiency-enhancing) tournaments. In this paper we propose an alternative rationalization … of tournaments focusing on a fully informed principal whose objective is to maximize a weighted average of the …
Persistent link: https://www.econbiz.de/10010261791
the well being of others. In this paper we examine tournaments among inequity averse agents, who dislike disadvantageous …
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Splitting leagues or tournaments seems to be puzzling when agents are homogeneous and splitting leads to a negative … tournaments (i.e., tournaments that are intertemporally linked), which also enhances incentives. …
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the well being of others. In this paper we examine tournaments among inequity averse agents, who dislike disadvantageous …
Persistent link: https://www.econbiz.de/10010263076
Rank-order tournaments are usually modeled simultaneously. However, real tournaments are often sequential. We show that … agents’ strategic behavior in sequential-move tournaments significantly differ from the one in simultaneous-move tournaments …
Persistent link: https://www.econbiz.de/10010263117