Tournaments have been objected as resulting from ad hoc restrictions to the contracting problem which are not easily … optimality and the relation to the special case of tournaments. It emerges that for a group of identical risk-neutral agents, the …

The literature on R&D contests implicitly assumes that contestants submit their innovation regardless of its value … procurer cannot commit to never bargain with innovators who bypass the contest. We compare ?xed-prize tournaments with and …

interesting, as previous results on individual tournaments indicate that oftentimes only the stronger participants should be …

This paper presents a strategic model of risk-taking behavior in contests. Formally, we analyze an n-player winner …

tournaments and piece rates as alternative incentive schemes has focused on the case of unlimited liability. However, in practice … under piece rates than under tournaments. Moreover, if first-best implementation is not achieved and workers earn positive … rents, efforts and profits will be larger for piece rates than for tournaments given sufficiently convex costs. While …