Arbeitspapier
An envelope approach to tournament design
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 contrast to the traditional understanding, tournaments may be dominated by piece rates even if workers are risk-neutral. The paper also offers a strikingly simple characterization of the optimal tournament for quadratic costs and CARA utility, as well as an extension to large tournaments.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 184 [rev.]
- Klassifikation
-
Wirtschaft
Existence and Stability Conditions of Equilibrium
Economics of Contract: Theory
Organization of Production
- Thema
-
rank-order tournaments
first-order approach
envelope theorem
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Ewerhart, Christian
- Ereignis
-
Veröffentlichung
- (wer)
-
University of Zurich, Department of Economics
- (wo)
-
Zurich
- (wann)
-
2015
- DOI
-
doi:10.5167/uzh-103965
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Ewerhart, Christian
- University of Zurich, Department of Economics
Entstanden
- 2015
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