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This study provides a unified framework to compare three canonical types of contests: winner-take-all contests won by the best performer, winner-take-all lotteries where probability of success is proportional to performance, and proportional-prize contests in which rewards are shared in...
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This experiment compares the performance of two contest designs: a standard winner-take-all tournament with a single fixed prize, and a novel proportional-payment design in which that same prize is divided among contestants by their share of total achievement. We find that proportional prizes...
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risk and typically need to assume stability of these characteristics over time and across decision domains. We test the …
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bias and to test some prominent psychological mechanisms. Inspired by the hypothetical scenarios, we use a two …
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risk and typically need to assume stability of these characteristics over time and across decision domains. We test the …
Persistent link: https://www.econbiz.de/10013072892