Miscellany a Note on Modeling Tournaments

• Main Author: Koh, Winston T. H.
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 1992
• Subjects: Economics
• Online Access: https://ink.library.smu.edu.sg/soe_research/398
• Institution: Singapore Management University

Existing studies on tournaments utilize different specifications of the production function. Comparison of these results is difficult. This paper shows that the strategic behavior of agents in a tournament can be analyzed more generally using a specification of the production function along the lines of the standard agency model. I also show that in mixed contests, the more able contestant would in equilibrium have a higher probability of winning the contest despite attempts to use effort to compensate for ability by the less able contestant (Proposition 3).