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Competition amongst contests

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  • Ghazala Azmat

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  • Marc Möller

Abstract

This article analyses the allocation of prizes in contests. While existing models consider a single contest with an exogenously given set of players, in our model several contests compete for participants. As a consequence, prizes not only induce incentive effects but also participation effects. We show that contests that aim to maximize players’ aggregate effort will award their entire prize budget to the winner. In contrast, multiple prizes will be awarded in contests that aim to maximize participation and the share of the prize budget awarded to the winner increases in the contests’ randomness. We also provide empirical evidence for this relationship using data from professional road running. In addition, we show that prize structures might be used to screen between players of differing ability.

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Bibliographic Info

Paper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 1072.

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Date of creation: Feb 2008
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Handle: RePEc:upf:upfgen:1072

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Web page: http://www.econ.upf.edu/

Related research

Keywords: Contests; allocation of prizes; participation;

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Cited by:
  1. Leuven, Edwin & Oosterbeek, Hessel & van der Klaauw, Bas, 2010. "Splitting Tournaments," CEPR Discussion Papers 8016, C.E.P.R. Discussion Papers.
  2. Ghazala Azmat & Marc M�ller, 2012. "The Distribution of Talent across Contests," Working Papers 600, Barcelona Graduate School of Economics.
  3. Ghazala Azmat & Marc Möller, 2012. "The distribution of talent across contests," Economics Working Papers 1298, Department of Economics and Business, Universitat Pompeu Fabra.
  4. John Morgan & Dana Sisak & Felix Vardy, 2012. "On the Merits of Meritocracy," Tinbergen Institute Discussion Papers 12-077/1, Tinbergen Institute.

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