3 papers
econ.TH2025
Robust Tournaments
Mikhail Drugov, Dmitry Ryvkin
We characterize robust tournament design -- the prize scheme that maximizes the lowest effort in a rank-order tournament where the distribution of noise is unknown, except for an u…
econ.TH2024
Tournaments with a Standard
Mikhail Drugov, Dmitry Ryvkin, Jun Zhang
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…
econ.TH2024
The psychology of prizes: Loss aversion and optimal tournament rewards
Dmitry Ryvkin, Qin Wu
We study the optimal allocation of prizes in rank-order tournaments with loss averse agents. Prize sharing becomes increasingly optimal with loss aversion because more equitable pr…