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Expert opinion and compensation: evidence from a musical competition

Author

Listed:
  • 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://sites.uclouvain.be/core/publications/coredp/coredp2002.html
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    JEL classification:

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

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