The optimal allocation of prizes in contests: An auction approach
We characterize the optimal structure of prizes in contests, when the contest designer is interested in the maximization of either the expected total e¢çort or the expected highest e¢çort. The all-pay auction framework in the present paper makes it possible to derive all the results in Benny Moldovanu and Aner Sela's (2001, American Economic Review, 542-558) incomplete-information model of contests as well as other results in a particularly simple fashion.
|Date of creation:||2012|
|Date of revision:|
|Contact details of provider:|| Postal: 1-5-Ga, Anam-dong, Sung buk-ku, Seoul, 136-701|
Fax: (82-2) 928-4948
Web page: http://econ.korea.ac.kr/~ri
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Benny Moldovanu & Aner Sela & Xianwen Shi, 2010.
"Carrots and Sticks: Prizes and Punishments in Contests,"
tecipa-399, University of Toronto, Department of Economics.
- Benny Moldovanu & Aner Sela & Xianwen Shi, 2012. "Carrots And Sticks: Prizes And Punishments In Contests," Economic Inquiry, Western Economic Association International, vol. 50(2), pages 453-462, 04.
- Benny Modovanu & Aner Sela & Xianwen Shi, 2008. "Carrots and Sticks: Prizes and Punishments in Contests," Working Papers 0802, Ben-Gurion University of the Negev, Department of Economics.
- Moldovanu, Benny & Sela, Aner & Shi, Xianwen, 2008. "Carrots and Sticks: Prizes and Punishments in Contests," CEPR Discussion Papers 6770, C.E.P.R. Discussion Papers.
When requesting a correction, please mention this item's handle: RePEc:iek:wpaper:1207. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Kim, Jisoo)
If references are entirely missing, you can add them using this form.