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Information Feedback in a Dynamic Tournament

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  • Masaki Aoyagi

Abstract

This paper studies the problem of information revelation in a multi-stage tournament where the agents' effort in each stage gives rise to a stochastic performance signal privately observed by the principal. The principal controls the agents' effort incentive through the use of a feedback policy, which transforms his private information into a public announcement. The optimal feedback policy is one that maximizes the agents' expected effort. The paper identifies when the principal should use the no-feedback policy that reveals no information, or the full-feedback policy that reveals all his information.

Suggested Citation

  • Masaki Aoyagi, 2003. "Information Feedback in a Dynamic Tournament," ISER Discussion Paper 0580, Institute of Social and Economic Research, The University of Osaka.
    • Handle: RePEc:dpr:wpaper:0580
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    File URL: https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2003/DP0580.pdf
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