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An Experimental Investigation of Research Tournaments

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  • Fullerton, Richard, et al

Abstract

Research tournaments are predicted to encourage R&D. Recent theoretical developments in research tournaments are grounded in search theory. Although the economic intuition behind tournaments is straightforward, computing equilibrium strategies is complex. The participants compute a stopping rule based on the number of participants, the prize and the cost of research. It is an empirical question whether agents will behave as predicted or will employ simple "rule of thumb" strategies such as taking a predetermined number of draws. This paper reports the results of a series of laboratory experiments designed to test the predictions of the search model of tournaments. Copyright 1999 by Oxford University Press.

Suggested Citation

  • Fullerton, Richard, et al, 1999. "An Experimental Investigation of Research Tournaments," Economic Inquiry, Western Economic Association International, vol. 37(4), pages 624-636, October.
    • Handle: RePEc:oup:ecinqu:v:37:y:1999:i:4:p:624-36
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    Citations

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    Cited by:

    1. Emmanuel Dechenaux & Dan Kovenock & Roman Sheremeta, 2015. "A survey of experimental research on contests, all-pay auctions and tournaments," Experimental Economics, Springer;Economic Science Association, vol. 18(4), pages 609-669, December.
    2. Anja Schöttner, 2008. "Fixed-prize tournaments versus first-price auctions in innovation contests," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 35(1), pages 57-71, April.
    3. repec:hum:wpaper:sfb649dp2005-041 is not listed on IDEAS
    4. repec:bla:germec:v:9:y:2008:i::p:339-353 is not listed on IDEAS
    5. Donja Darai & Jens Grosser & Nadja Trhal, 2009. "Patents versus Subsidies � A Laboratory Experiment," SOI - Working Papers 0905, Socioeconomic Institute - University of Zurich.
    6. Ezgi Akar & Sona Mardikyan, 2018. "User Roles and Contribution Patterns in Online Communities: A Managerial Perspective," SAGE Open, , vol. 8(3), pages 21582440187, August.
    7. Brueggemann, Julia & Meub, Lukas, 2015. "Experimental evidence on the effects of innovation contests," University of Göttingen Working Papers in Economics 251, University of Goettingen, Department of Economics.
    8. Mürüvvet Büyükboyacı, 2016. "A Designer'S Choice Between Single-Prize And Parallel Tournaments," Economic Inquiry, Western Economic Association International, vol. 54(4), pages 1774-1789, October.

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