Optimal Feedback in Contests
Abstract/Contents
- Abstract
- We derive an optimal dynamic contest for environments where the principal monitors effort through a coarse, binary performance measure and chooses prize-allocation and termination rules together with a real-time feedback policy. The optimal contest takes a stark cyclical form: contestants are kept fully apprised of their own successes, and at the end of each fixed-length cycle, if at least one agent has succeeded, the contest ends and the prize is shared equally among all successful agents regardless of when they succeeded; otherwise, the designer informs all contestants that nobody has yet succeeded and the contest resets.
Description
| Type of resource | text |
|---|---|
| Date created | August 20, 2021 |
Creators/Contributors
| Author | Ely, Jeffrey |
|---|---|
| Author | Georgiadis, George |
| Author | Khorasani, Sina |
| Author | Rayo, Luis |
| Organizer of meeting | Board, Simon |
| Organizer of meeting | Cisternas, Gonzalo |
| Organizer of meeting | Frick, Mira |
| Organizer of meeting | Georgiadis, George |
| Organizer of meeting | Skrzypacz, Andrzej |
| Organizer of meeting | Sugaya, Takuo |
Subjects
| Subject | economics |
|---|---|
| Genre | Text |
| Genre | Working paper |
| Genre | Grey literature |
Bibliographic information
Access conditions
- Use and reproduction
- User agrees that, where applicable, content will not be used to identify or to otherwise infringe the privacy or confidentiality rights of individuals. Content distributed via the Stanford Digital Repository may be subject to additional license and use restrictions applied by the depositor.
- License
- This work is licensed under a Creative Commons Attribution 4.0 International license (CC BY).
Preferred citation
- Preferred citation
- Ely, J., Georgiadis, G., Khorasani, S., and Rayo, L. (2022). Optimal Feedback in Contests. Stanford Digital Repository. Available at https://purl.stanford.edu/vz068cz1509
Collection
SITE Conference 2021
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