Optimal rewards in contests

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Optimal rewards in contests

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dc.contributor.author Cohen, Chen en_GB
dc.contributor.author Kaplan, Todd R. en_GB
dc.contributor.author Sela, Aner en_GB
dc.contributor.department Ben-Gurion University (Negev) en_GB
dc.contributor.department University of Exeter en_GB
dc.date.accessioned 2008-05-20T13:12:32Z en_GB
dc.date.accessioned 2011-01-25T10:25:32Z en_US
dc.date.accessioned 2013-03-19T15:53:08Z
dc.date.issued 2004-10 en_GB
dc.description.abstract We study all-pay contests under incomplete information where the reward is a function of the contestant's type and effort. We analyze the optimal reward for the designer when the reward is either multiplicatively separable or additively separable in effort and type. In the multiplicatively separable environment, the optimal reward is always positive while in the additively separable environment it may also be negative. In both environments, depending on the designer's utility, the optimal reward may either increase or decrease in the contestants' effort. Finally, in both environments, the designer's payoff depends only upon the expected value of the effort-dependent rewards and not the number of rewards. en_GB
dc.description.sponsorship Leverhulme Foundation (Grant RF/7/2006/0325) en_GB
dc.identifier.uri http://hdl.handle.net/10036/26992 en_GB
dc.language.iso en en_GB
dc.publisher Centre for Economic Policy Research en_GB
dc.relation.ispartofseries CEPR Discussion Paper en_GB
dc.relation.ispartofseries No. 4704 en_GB
dc.subject All-pay auctions en_GB
dc.subject Optimal design en_GB
dc.subject Contests en_GB
dc.title Optimal rewards in contests en_GB
dc.type Working Paper en_GB
dc.date.available 2008-05-20T13:12:32Z en_GB
dc.date.available 2011-01-25T10:25:32Z en_US
dc.date.available 2013-03-19T15:53:08Z


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