When higher prizes lead to lower efforts—The impact of favoritism in tournaments
AbstractWe investigate the relationship between tournament prices and effort choices in the presence of favoritism. High tournament prizes can decrease agents’ effort supply when the choice of the winner is not perfectly objective but affected to some extent by personal preferences of an evaluator.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 120 (2013)
Issue (Month): 2 ()
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Web page: http://www.elsevier.com/locate/ecolet
Incentives; Favoritism; Nepotism; Tournaments;
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