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- W3040663398 abstract "We consider the design of contests for n agents when the principal can choose both the prize profile and the contest success function. Our framework includes Tullock contests, Lazear-Rosen tournaments and all-pay contests as special cases, among others. We show that the optimal contest has an intermediate degree of competitiveness in the contest success function, and a minimally competitive prize profile with n−1 identical prizes. The optimum can be achieved with a nested Tullock contest. We extend the model to allow for imperfect performance measurement andfor heterogeneous agents. We relate our results to a recent literature which has asked similar questions but has typically focused on the design of either the prize profile or the contest success function" @default.
- W3040663398 created "2020-07-10" @default.
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- W3040663398 date "2020-05-01" @default.
- W3040663398 modified "2023-09-24" @default.
- W3040663398 title "Optimal Contest Design: A General Approach" @default.
- W3040663398 hasPublicationYear "2020" @default.
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