Contests & Conflict | 04/13/2022 | 04:00 PM
Multiple Prizes in Tournaments with Career Concerns

Speaker: Huseyin Yildirim

Date & Time: Singapore (10 pm), Beijing (10 pm), Bath (3 pm), Munich (4 pm), Los Angeles (7 am), Cincinnati (10 am), Sydney (April 14, 12 am)

Huseyin Yildirim will present the paper titled "Multiple Prizes in Tournaments with Career Concerns" (joint work with Alvaro J. Name-Correa).

Abstract of the Paper:
We introduce career concerns into rank-order tournaments and o¤er a novel explanation for the pervasiveness of multiple prizes. We argue that career-concerned individuals, already facing market pressure to perform, will be reluctant to participate in winner-take-all competitions. To entice them and maximize performance, the organizer promises a softer competition through additional prizes. We show that the optimal (minimum) number of prizes is hump-shaped in the population.s talent variance and increasing in publicly disclosed ranks. We also examine entry fees, talent pre-screening, and prize budget as design tools for tournaments, along with prize allocation.

Chair: Qiang Fu, Co-Chair: Tracy Liu and Lionel Page

Contact Person

Event Team

Max-Planck-Institut für Steuerrecht und Öffentliche Finanzen

Marstallplatz 1
80539 München

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