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Competition in which goods or rents are allocated as a function of
the various efforts expended by players in trying to win these goods
or rents is a very common phenomenon. A subset of examples comes
from marketing, litigation, relative reward schemes or promotion
tournaments in internal labor markets, beauty contests, influence
activities, education filters, R&D contests, electoral competition
in political markets, military conflict and sports. I survey here
this type of competition which is sometimes called contest or
tournament. I focus on the role of its various design aspects, such
as price structure, sequencing, nesting, repetition, elimination
contests and many others. Some key insights about the nature and
properties of this type of competition emerge from this analysis. |
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