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Peer evaluation tournaments are common in academia, the arts, and corporate environments. They make use of the expert knowledge that academics or team members have in assessing their peers' performance. However, rampant opportunities for cheating may throw a wrench in the process unless,...
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Tournaments, reward structures based on rank order, are compared with individual contracts in a model with one risk-neutral principal and many risk-averse agents. Each agents' output is a stochastic function of his effort level plus an additive shock term that is common to all the agents. The...
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In many facets of life, we often face competition with a multilayered structure in which different levels of … competition take place simultaneously. In this paper, we propose a new class of tournament models, called multilayered tournaments …
Persistent link: https://www.econbiz.de/10009778614
Optimal rank-order tournaments have traditionally been studied using a first-order approach. The present analysis relies instead on the construction of an "upper envelope" over all incentive compatibility conditions. lt turns out that the first-order approach is not innocuous. For example, in...
Persistent link: https://www.econbiz.de/10010459847
Optimal rank-order tournaments have traditionally been studied using a first-order approach. The present analysis relies instead on the construction of an "upper envelope" over all incentive compatibility conditions. It turns out that the first-order approach is not innocuous. For example, in...
Persistent link: https://www.econbiz.de/10011389552
competition affect agents' performance? In a real-effort laboratory experiment, we study a one-time increase in incentives in a …
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