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by Bénabou and Tirole (2016), we demonstrate that rankings can reduce welfare distortions of optimal screening contracts …
Persistent link: https://www.econbiz.de/10012253115
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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 …
Persistent link: https://www.econbiz.de/10010262248
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. …
Persistent link: https://www.econbiz.de/10010263059
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
We analyze a two-stage game between two heterogeneous players. At stage one, common risk is chosen by one of the players. At stage two, both players observe the given level of risk and simultaneously invest in a winner-take-all competition The game is solved theoretically and then tested by...
Persistent link: https://www.econbiz.de/10010264918