The selection efficiency of tournaments
We discuss tournaments in terms of their efficiency as probabilistic mechanisms that select high-quality alternatives ("players") in a noisy environment. We characterize the selection efficiency of three such mechanisms - contests, binary elimination tournaments, and round-robin tournaments - depending on the shape of the distribution of players' quality, the number of players, and noise level. The results have implications as to how, and under what circumstances, the efficiency of tournament-based selection can be manipulated.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
When requesting a correction, please mention this item's handle: RePEc:eee:ejores:v:206:y:2010:i:3:p:667-675. 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: (Zhang, Lei)
If references are entirely missing, you can add them using this form.