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Nominees, winners, and losers

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  • V. Ginsburgh
  • Sheila Weyers

Abstract

The paper tries to convey the idea that choosing a winner among a group of nominees or short-listed candidates may hurt those who bestow prizes, those who are selected, as well as those who base their own choices on the ranking. We base our observations on examples of contests (movies, literature, and music) in which winners often turn out not to be better than nominees. Our suggestion is therefore to select, say five candidates, and not to rank them, but reward all nominees equally. Copyright Springer Science+Business Media New York 2014

Suggested Citation

  • V. Ginsburgh & Sheila Weyers, 2014. "Nominees, winners, and losers," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 38(4), pages 291-313, November.
    • Handle: RePEc:kap:jculte:v:38:y:2014:i:4:p:291-313
    DOI: 10.1007/s10824-013-9211-0
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    References listed on IDEAS

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    1. Tom Coupé & Victor Ginsburgh & Abdul Noury, 2010. "Are leading papers of better quality? Evidence from a natural experiment," Oxford Economic Papers, Oxford University Press, vol. 62(1), pages 1-11, January.
    2. Hodgson, Robert T., 2009. "An Analysis of the Concordance Among 13 U.S. Wine Competitions," Journal of Wine Economics, Cambridge University Press, vol. 4(1), pages 1-9, April.
    3. Graddy, Kathryn, 2013. "Taste Endures! The Rankings of Roger de Piles (†1709) and Three Centuries of Art Prices," The Journal of Economic History, Cambridge University Press, vol. 73(3), pages 766-791, September.
    4. Laurent Bouton, 2011. "Good rankings are bad - Why reliable rankings can hurt consumers," Boston University - Department of Economics - Working Papers Series WP2011-002, Boston University - Department of Economics.
    5. Victor Ginsburgh & Renato Flores Galvao, 1996. "The Queen Elisabeth Musical Competition: how fair is the final ranking," ULB Institutional Repository 2013/1713, ULB -- Universite Libre de Bruxelles.
    6. Victor A. Ginsburgh & Jan C. van Ours, 2003. "Expert Opinion and Compensation: Evidence from a Musical Competition," American Economic Review, American Economic Association, vol. 93(1), pages 289-296, March.
    7. Coupé, Tom, 2013. "Peer review versus citations – An analysis of best paper prizes," Research Policy, Elsevier, vol. 42(1), pages 295-301.
    8. Bruno S. Frey, "undated". "Knight Fever towards an Economics of Awards," IEW - Working Papers 239, Institute for Empirical Research in Economics - University of Zurich.
    9. Victor Ginsburgh, 2003. "Awards, Success and Aesthetic Quality in the Arts," Journal of Economic Perspectives, American Economic Association, vol. 17(2), pages 99-111, Spring.
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    Cited by:

    1. Osterloh, Margit & Frey, Bruno S., 2020. "How to avoid borrowed plumes in academia," Research Policy, Elsevier, vol. 49(1).
    2. Aloys Leo Prinz, 2022. "The concentration of power in the market for contemporary art: an empirical analysis of ArtReview’s “Power 100”," SN Business & Economics, Springer, vol. 2(1), pages 1-32, January.
    3. Victor Ginsburgh, 2016. "On Judging Art and Wine," Working Papers ECARES ECARES 2016-21, ULB -- Universite Libre de Bruxelles.
    4. Goodall, Amanda H. & Osterloh, Margit, 2015. "Women Have to Enter the Leadership Race to Win: Using Random Selection to Increase the Supply of Women into Senior Positions," IZA Discussion Papers 9331, Institute of Labor Economics (IZA).
    5. Bruno S Frey & Jana Gallus, 2016. "Honors: A rational choice analysis of award bestowals," Rationality and Society, , vol. 28(3), pages 255-269, August.
    6. Nicolas Lagios & Pierre-Guillaume Méon, 2021. "Experts, Information, Reviews, and Coordination: Evidence on How Literary Prizes Affect Sales," Working Papers CEB 21-011, ULB -- Universite Libre de Bruxelles.

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    Keywords

    Contests; Awards; Prizes; Ranking;
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