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Expert Opinion and Compensation: Evidence from a Musical Competition

Author

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  • Victor A. Ginsburgh
  • Jan C. van Ours

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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Suggested Citation

  • 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.
    • Handle: RePEc:aea:aecrev:v:93:y:2003:i:1:p:289-296
    Note: DOI: 10.1257/000282803321455296
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    References listed on IDEAS

    as
    1. Joshua D. Angrist & Alan B. Krueger, 2001. "Instrumental Variables and the Search for Identification: From Supply and Demand to Natural Experiments," Journal of Economic Perspectives, American Economic Association, vol. 15(4), pages 69-85, Fall.
    2. 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..
    3. FLÔRES, R. G. & GINSBURGH, Jr. and V. A., 1996. "The Queen Elisabeth musical competition: how fair is the final ranking?," CORE Discussion Papers RP 1196, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    4. repec:fth:prinin:455 is not listed on IDEAS
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    More about this item

    JEL classification:

    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
    • Z10 - Other Special Topics - - Cultural Economics - - - General

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