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Expert opinion and compensation: evidence from a musical competition

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Author Info
GINSBURGH, Victor
van OURS, Jan

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Abstract

Pianists who achieve high scores in the Queen Elizabeth musical competition are rewarded by subsequent success. This is not surprising in itself, but it is not immediately clear whether this is caused by the score or because those who have high scores are better pianists. Data on eleven consecutive competitions make it possible to distinguish between the two explanations, since an unexpected situation allows us to use an instrumental variable (the randomly assigned order in which musicians appear at the competition), uncorrelated with ability, but correlated with the results of the competition.

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Publisher Info
Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 2002033.

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Date of creation: 01 May 2002
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Handle: RePEc:cor:louvco:2002033

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Related research
Keywords: competition and success; unobserved true quality; expert opinion;

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Find related papers by JEL classification:
L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
Z10 - Other Special Topics - - Cultural Economics - - - General

References listed on IDEAS
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  1. Joshua Angrist & Alan Krueger, 2001. "Instrumental Variables and the Search for Identification: From Supply and Demand to Natural Experiments," Working Papers 834, Princeton University, Department of Economics, Industrial Relations Section.. [Downloadable!]
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  2. repec:fth:prinin:455 is not listed on IDEAS
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Laura Spierdijk & Michel Vellekoop, 2009. "The structure of bias in peer voting systems: lessons from the Eurovision Song Contest," Empirical Economics, Springer, vol. 36(2), pages 403-425, May. [Downloadable!] (restricted)
  2. Cansino Muñoz-Repiso, José Manuel & Sánchez Braza, Antonio, 2009. "Evaluación del programa de Escuelas Taller y Casas de Oficios a partir de su efecto sobre el tiempo de búsqueda del primer empleo. El caso de Sevilla/," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 27, pages 277 (22 P, Abril. [Downloadable!] (restricted)
  3. Florine Livat & Nicolas G. Vaillant, 2006. "Expert opinion and brand reputation: an analysis from a French Cuban cigars guidebook," Applied Economics Letters, Taylor and Francis Journals, vol. 13(2), pages 97-100, February. [Downloadable!] (restricted)
  4. Bruno S. Frey, 2005. "Knight Fever – Towards an Economics of Awards," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
  5. Prüfer, J., 2009. "Semi-Public Contests," Discussion Paper 2009-33, Tilburg University, Center for Economic Research. [Downloadable!]
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  6. Victor Ginsburgh, 2005. "Languages, Genes, and Cultures," Journal of Cultural Economics, Springer, vol. 29(1), pages 1-17, February. [Downloadable!] (restricted)
  7. Pierre-Philippe Combes & Laurent Linnemer & Michael Visser, 2006. "Publish or peer-rich ? The role of skills and networks in hiring economics professors," Research Unit Working Papers 0604, Laboratoire d'Economie Appliquee, INRA. [Downloadable!]
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  8. Marco Haan & S. Dijkstra & Peter Dijkstra, 2005. "Expert Judgment Versus Public Opinion – Evidence from the Eurovision Song Contest," Journal of Cultural Economics, Springer, vol. 29(1), pages 59-78, February. [Downloadable!] (restricted)
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  9. GINSBURGH, Victor & NOURY, Abdul, 2005. "Cultural voting : The Eurovision Song Contest," CORE Discussion Papers 2005006, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE). [Downloadable!]
  10. Bruno S. Frey & Susanne Neckermann, 2009. "Awards in Economics - Towards a New Field of Inquiry," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
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  11. Lee, Jungmin, 2004. "Outlier Aversion in Evaluating Performance: Evidence from Figure Skating," IZA Discussion Papers 1257, Institute for the Study of Labor (IZA). [Downloadable!]
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