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Article: Investigators at Florida State University release new data on public economic theory.
- Article from:
- Economics Week
- Article date:
- November 13, 2009
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According to recent research from the United States, "We consider three prominent tournament formats-contests, binary elimination tournaments, and round-robin tournaments-in the case when players are heterogeneous in their abilities but the heterogeneity is, in a well-defined sense, weak. Using linear approximation, we characterize equilibrium strategies and payoffs in the three tournament games and compare them to the benchmark symmetric case of identical players."
"We describe small deviations from the symmetric equilibria by elasticities of a player's equilibrium effort with respect to her own ability and the abilities of her rivals. Our results only require ...