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The pros and cons of workplace tournaments

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  • Roman M. Sheremeta

    (Case Western Reserve University, USA)

Abstract

Tournaments are commonly used in the workplace to determine promotion, assign bonuses, and motivate personal development. Tournament-based contracts can be very effective in eliciting high effort, often outperforming other compensation contracts, but they can also have negative consequences for both managers and workers. The benefits and disadvantages of workplace tournaments have been identified in an explosion of theoretical, empirical, and experimental research over the past 30 years. Based on these findings, suggestions and guidelines can be provided for when it might be beneficial to use tournaments in the workplace.

Suggested Citation

  • Roman M. Sheremeta, 2016. "The pros and cons of workplace tournaments," IZA World of Labor, Institute for the Study of Labor (IZA), pages 302-302, October.
  • Handle: RePEc:iza:izawol:journl:y:2016:n:302
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    Cited by:

    1. Majerczyk, Michael & Sheremeta, Roman & Tian, Yu, 2018. "Adding Tournament to Tournament: Combining Between-Team and Within-Team Incentives," MPRA Paper 86280, University Library of Munich, Germany.
    2. repec:bla:jecsur:v:32:y:2018:i:3:p:683-704 is not listed on IDEAS
    3. Roman M. Sheremeta, 2018. "Behavior In Group Contests: A Review Of Experimental Research," Journal of Economic Surveys, Wiley Blackwell, vol. 32(3), pages 683-704, July.
    4. Dmitry B. Rokhlin & Anatoly Usov, 2017. "Asymptotic efficiency of the proportional compensation scheme for a large number of producers," Papers 1701.06038, arXiv.org.
    5. Sheremeta, Roman, 2018. "Experimental Research on Contests," MPRA Paper 89327, University Library of Munich, Germany.
    6. Oliver Braganza, 2018. "Proxyeconomics, A theory of proxy based competition," Papers 1803.00345, arXiv.org, revised Apr 2019.

    More about this item

    Keywords

    tournaments; competition; contracts; workplace;

    JEL classification:

    • J33 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Compensation Packages; Payment Methods

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