In a recurring auction early bids may reveal bidders' types, which in turn affects bidding in later auctions. Bidders take this into account and may bid in a way that conceals their private information until the last auction is played. The present paper analyzes the equilibrium of a sequence of...

This paper studies how fund managers take skewed bets in tournaments in the investment management industry, assuming that a given fund manager constantly reexamines fund performance relative to her peers and takes a position with respect to skewness risk. I show that when a fund manager...

We analyze a robust version of the Dynkin game over a set P of mutually singular probabilities. We first prove that conservative player's lower and upper value coincide (Let us denote the value by $V$). Such a result connects the robust Dynkin game with second-order doubly reflected backward...

This paper considers the optimal design of dynamic research contests when the buyer can set time-dependent prizes. We derive the buyer-optimal contest and show that it entails an increasing prize schedule. Remarkably, this allows the buyer to implement a global stopping rule. In particular, the...

This paper reports the results from a large-scale laboratory experiment investigating the impact of tournament incentives and wage gifts on creativity. We find that tournaments substantially increase creative output, with no evidence for crowding out of intrinsic motivation. By comparison, wage...

In this paper, we study the potential implications of a novel yet natural voting system: strategic sequential voting. Each voter has one vote and can choose when to cast his vote. After each voting period, the current count of votes is publicized enabling subsequent voters to use this...

The order of actions in contests may have a significant effect on performance. In this study we examine the role of schedule in round-robin tournaments with sequential games between three and four contestants. Our propensity-score matching estimation, based on soccer FIFA World Cups, UEFA...