Tournaments with a Standard

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Tác giả: Mikhail Drugov, Dmitry Ryvkin, Jun Zhang

Ngôn ngữ: eng

Ký hiệu phân loại: 794.157 Tournaments and championships

Thông tin xuất bản: 2024

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Bộ sưu tập: Metadata

ID: 205162

 We study tournaments where winning a rank-dependent prize requires passing a minimum performance standard. We show that, for any prize allocation, the optimal standard is always at a mode of performance that is weakly higher than the global mode and identify a necessary and sufficient condition for it to be at the global mode. When the prize scheme can be designed as well, the winner-take-all prize scheme is optimal for noise distributions with an increasing failure rate
  and awarding equal prizes to all qualifying agents is optimal for noise distributions with a decreasing failure rate. For distributions with monotone likelihood ratios -- log-concave and log-convex, respectively -- these pay schemes are also optimal in a larger class of anonymous, monotone contracts that may depend on cardinal performance.
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