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Abstract

I analyze a mechanism design of a tournament in which the principal can strategically enhance the probability of a tie. The principal decides on a ”tie distance” and announces a rule according to which a tie is declared if the difference between the two contestants’ performances is within the tie distance. I show that the contestants’ equilibrium efforts do not depend on the prizes awarded in case of a tie. I find that there are cases in which the optimal mechanism has a positive tie distance.

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Bibliographic Info

Paper provided by UCLA Department of Economics in its series Levine's Bibliography with number 321307000000000374.

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Date of creation: 11 Sep 2006
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Handle: RePEc:cla:levrem:321307000000000374

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Find related papers by JEL classification:

• D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
• J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods

This paper has been announced in the following NEP Reports:

• NEP-ALL-2006-09-16 (All new papers)

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1. Lazear, Edward P & Rosen, Sherwin, 1981. "Rank-Order Tournaments as Optimum Labor Contracts," Journal of Political Economy, University of Chicago Press, vol. 89(5), pages 841-64, October.
   
   • Edward P. Lazear & Sherwin Rosen, 1979. "Rank-Order Tournaments as Optimum Labor Contracts," NBER Working Papers 0401, National Bureau of Economic Research, Inc.
2. Alex Gershkov & Motty Perry, 2006. "Tournaments with Midterm Reviews," Discussion Paper Series dp414, The Center for the Study of Rationality, Hebrew University, Jerusalem.
   
   • Gershkov, Alex & Perry, Motty, 2009. "Tournaments with midterm reviews," Games and Economic Behavior, Elsevier, vol. 66(1), pages 162-190, May.
   • Gershkov, Alex & Perry, Motty, 2006. "Tournaments with Midterm Reviews," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 145, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
   • Alex Gershkov & Motty Perry, 2006. "Tournaments with Midterm Reviews," Levine's Bibliography 122247000000001229, UCLA Department of Economics.
3. Benny Moldovanu & Aner Sela, 2001. "The Optimal Allocation of Prizes in Contests," American Economic Review, American Economic Association, vol. 91(3), pages 542-558, June.
   
   • Moldovanu, Benny & Sela, Aner, 1999. "The Optimal Allocation of Prizes in Contests," Sonderforschungsbereich 504 Publications 99-75, Sonderforschungsbereich 504, Universität Mannheim & Sonderforschungsbereich 504, University of Mannheim.
4. Cohen, Daniel & Sela, Aner, 2005. "Contests with Ties," CEPR Discussion Papers 5132, C.E.P.R. Discussion Papers.
5. Pradeep Dubey & John Geanakoplos, 2004. "Grading Exams: 100, 99, ..., 1 or A, B, C? Incentives in Games of Status," Cowles Foundation Discussion Papers 1467, Cowles Foundation for Research in Economics, Yale University.

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