Risk taking in selection contests
Working paper
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http://hdl.handle.net/11250/163775Utgivelsesdato
2000-11Metadata
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Sammendrag
We study selection contests in which the strategic variable is degree of risk rather than amount of effort. The selection efficiency of such contests is examined. We show that the selection efficiency of a contest may be improved by limiting the competition in two ways; a) by having a small number of contestants, and b) by restricting contestant quality. The results may contribute to our understanding of such diverse phenomena as promotion processes in firms, selection of fund managers and research tournaments.
Utgiver
Norwegian School of Economics and Business Administration. Department of Finance and Management ScienceSerie
Discussion paper2000:22