Advanced Search
MyIDEAS: Login

Using Auctions To Reward Tournament Winners: Theory and Experimental Investigations

Contents:

Author Info

  • Richard L. Fullerton
  • Bruce G. Linster
  • Michael McKee
  • Stephen Slate

Abstract

This article explores theoretical and experimental implications of using auctions to reward winners of research tournaments. This process is a hybrid of the research tournament for a prize and a first-price auction held after the research is complete. The bids in the auction consist of a vector of both quality of the innovation and price. The experimental evidence supports the hypothesis that conducting auctions at the end of research tournaments will generally reduce the sponsor's prize expenditure relative to fixed-prize research tournaments. The potential importance of these results to the U.S. Department of Defense acquisition process is emphasized.

Download Info

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Bibliographic Info

Article provided by The RAND Corporation in its journal RAND Journal of Economics.

Volume (Year): 33 (2002)
Issue (Month): 1 (Spring)
Pages: 62-84

as in new window
Handle: RePEc:rje:randje:v:33:y:2002:i:spring:p:62-84

Contact details of provider:
Web page: http://www.rje.org

Order Information:
Web: https://editorialexpress.com/cgi-bin/rje_online.cgi

Related research

Keywords:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Alexander Matros, 2006. "Elimination Tournaments where Players Have Fixed Resources," Working Papers 205, University of Pittsburgh, Department of Economics, revised Jan 2006.
  2. Anja Schöttner, 2005. "Fixed-Prize Tournaments versus First-Price Auctions in Innovation Contests," SFB 649 Discussion Papers SFB649DP2005-041, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
  3. David Hendry, 2010. "Climate Change: Lessons for our Future from the Distant Past," Economics Series Working Papers 485, University of Oxford, Department of Economics.
  4. Donja Darai & Jens Grosser & Nadja Trhal, 2009. "Patents versus Subsidies – A Laboratory Experiment," SOI - Working Papers 0905, Socioeconomic Institute - University of Zurich.
  5. Prüfer, J., 2008. "Semi-Public Contests," Discussion Paper 2008-023, Tilburg University, Tilburg Law and Economic Center.
  6. Todd R. Kaplan & Shmuel Zamir, 2014. "Advances in Auctions," Discussion Papers 1405, Exeter University, Department of Economics.
  7. Giebe, Thomas, 2010. "Innovation Contests with Entry Auction," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 307, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  8. Nicola Dimitri, 2012. "Some Law & Economics Considerations on the EU Pre-Commercial Procurement of Innovation," Working Papers 2012/10, Maastricht School of Management.
  9. J. Todd Swarthout & Jason Shachat, 2004. "The performance of reverse auctions versus request for quotes when procuring goods with quality differences," Econometric Society 2004 North American Winter Meetings 255, Econometric Society.
  10. James T. Swarthout & Jason Shachat, 2004. "Procurement Auctions for Differentiated Goods," Econometric Society 2004 Far Eastern Meetings 629, Econometric Society.
  11. repec:wyi:journl:002123 is not listed on IDEAS

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:rje:randje:v:33:y:2002:i:spring:p:62-84. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.