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Expert opinion and compensation: evidence from a musical competition

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  • GINSBURGH, Victor
  • van OURS, Jan

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.

Suggested Citation

  • GINSBURGH, Victor & van OURS, Jan, 2002. "Expert opinion and compensation: evidence from a musical competition," LIDAM Discussion Papers CORE 2002033, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  • Handle: RePEc:cor:louvco:2002033
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    File URL: https://uclouvain.be/en/research-institutes/immaq/core/dp-2002.html
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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. repec:fth:prinin:455 is not listed on IDEAS
    3. Victor Ginsburgh & Renato Flores Galvao, 1996. "The Queen Elisabeth Musical Competition: how fair is the final ranking," ULB Institutional Repository 2013/1713, ULB -- Universite Libre de Bruxelles.
    4. 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..
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    competition and success; unobserved true quality; expert opinion;
    All these keywords.

    JEL classification:

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

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