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The selection efficiency of tournaments

  • Ryvkin, Dmitry

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.

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File URL: http://www.sciencedirect.com/science/article/pii/S0377-2217(10)00215-8
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Article provided by Elsevier in its journal European Journal of Operational Research.

Volume (Year): 206 (2010)
Issue (Month): 3 (November)
Pages: 667-675

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Handle: RePEc:eee:ejores:v:206:y:2010:i:3:p:667-675
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  1. Gradstein, Mark & Konrad, Kai A, 1999. "Orchestrating Rent Seeking Contests," Economic Journal, Royal Economic Society, vol. 109(458), pages 536-45, October.
  2. O'Flaherty, B. & Siow, A., 1990. "Up or Out Rules in the Market for Lawers," University of Chicago - Economics Research Center 90-10, Chicago - Economics Research Center.
  3. Alannah Orrison & Andrew Schotter & Keith Weigelt, 2004. "Multiperson Tournaments: An Experimental Examination," Management Science, INFORMS, vol. 50(2), pages 268-279, February.
  4. Fu, Qiang & Lu, Jingfeng, 2006. "The optimal multi-stage contest," MPRA Paper 946, University Library of Munich, Germany.
  5. Hvide, H.K. & Kristiansen, E.G., 1999. "Risk Taking in Selection Contests," Papers 5-99, Tel Aviv.
  6. Dmitry Ryvkin & Andreas Ortmann, 2006. "Three Prominent Tournament Formats: Predictive Power and Costs," CERGE-EI Working Papers wp303, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
  7. Stefan Szymanski, 2003. "The Economic Design of Sporting Contests," Journal of Economic Literature, American Economic Association, vol. 41(4), pages 1137-1187, December.
  8. Sherwin Rosen, 1985. "Prizes and Incentives in Elimination Tournaments," NBER Working Papers 1668, National Bureau of Economic Research, Inc.
  9. Mendonca, D. & Raghavachari, M., 2000. "Comparing the efficacy of ranking methods for multiple round-robin tournaments," European Journal of Operational Research, Elsevier, vol. 123(3), pages 593-605, June.
  10. Reed, William J., 2001. "The Pareto, Zipf and other power laws," Economics Letters, Elsevier, vol. 74(1), pages 15-19, December.
  11. Canice Prendergast, 1999. "The Provision of Incentives in Firms," Journal of Economic Literature, American Economic Association, vol. 37(1), pages 7-63, March.
  12. Taylor, Curtis R, 1995. "Digging for Golden Carrots: An Analysis of Research Tournaments," American Economic Review, American Economic Association, vol. 85(4), pages 872-90, September.
  13. Dmitry Ryvkin & Andreas Ortmann, 2008. "The Predictive Power of Three Prominent Tournament Formats," Management Science, INFORMS, vol. 54(3), pages 492-504, March.
  14. J. Neil Bearden & Amnon Rapoport & Ryan O. Murphy, 2006. "Sequential Observation and Selection with Rank-Dependent Payoffs: An Experimental Study," Management Science, INFORMS, vol. 52(9), pages 1437-1449, September.
  15. Leskinen, Pekka & Kangas, Annika S. & Kangas, Jyrki, 2004. "Rank-based modelling of preferences in multi-criteria decision making," European Journal of Operational Research, Elsevier, vol. 158(3), pages 721-733, November.
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