The nature of tournaments
نویسندگان
چکیده
This paper characterizes the optimal way for a principal to structure a rank-order tournament in amoral hazard setting (as in Lazear andRosen in J Polit Econ 89:841–864, 1981). We find that it is often optimal to give rewards to top performers that are smaller inmagnitude than corresponding punishments to poor performers. The paper identifies four reasons why the principal might prefer to give larger rewards than punishments: (1) R is small relative to P (where R is risk aversion and P is absolute prudence); (2) the distribution of shocks to output is asymmetric and the asymmetry takes a particular form; (3) the principal faces a limited liability constraint; and (4) there is agent heterogeneity of a particular form.
منابع مشابه
t-Pancyclic Arcs in Tournaments
Let $T$ be a non-trivial tournament. An arc is emph{$t$-pancyclic} in $T$, if it is contained in a cycle of length $ell$ for every $tleq ell leq |V(T)|$. Let $p^t(T)$ denote the number of $t$-pancyclic arcs in $T$ and $h^t(T)$ the maximum number of $t$-pancyclic arcs contained in the same Hamiltonian cycle of $T$. Moon ({em J. Combin. Inform. System Sci.}, {bf 19} (1994), 207-214) showed that $...
متن کاملBowlers’ Performances in 2013 Champions Trophy
Cricket is becoming a fashionable team game throughout the world. One day internationals (ODI) have been able to bring more and more spectators to the cricket ground, due to the nature of its’ format. Among the ODI tournaments, the Champions trophy takes a significant place, as it is the second largest tournament after the global event of cricket world cup. This paper investigates the performa...
متن کاملIncidence of injury in amateur rugby league sevens.
OBJECTIVES To investigate the incidence, site, and nature of injuries sustained in amateur rugby league sevens tournaments. METHODS A total of 168 players competing in three amateur rugby league sevens tournaments were studied. All injuries sustained during matches were recorded. Information recorded included the name of the injured player and the time, cause, anatomical site, and nature of t...
متن کاملScheduling social tournaments locally
Tournament scheduling, such as the social golfer problem, has attracted significant attention in recent years because of their highly symmetrical and combinatorial nature. This paper presents an effective local search algorithm for a variety of tournament scheduling problems, including social golfer problems, debating tournaments, judge assignments, and very social golfers. The algorithm finds ...
متن کاملTackle-related injury rates and nature of injuries in South African Youth Week tournament rugby union players (under-13 to under-18): an observational cohort study
OBJECTIVES The tackle situation is most often associated with the high injury rates in rugby union. Tackle injury epidemiology in rugby union has previously been focused on senior cohorts but less is known about younger cohorts. The aim of this study was to report on the nature and rates of tackle-related injuries in South African youth rugby union players representing their provinces at nation...
متن کاملA Further Step Towards an Understanding of the Tournament Equilibrium Set
We study some problems pertaining to the tournament equilibrium set (τ for short). A tournament H is a τ-retentive tournament if there is a tournament T which has a minimal τ-retentive set R such that T [R] is isomorphic to H. We study τ-retentive tournaments and achieve many significant results. In particular, we prove that there are no τretentive tournaments of size 4, only 2 non-isomorphic τ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
دوره شماره
صفحات -
تاریخ انتشار 2012