How tournament incentives affect asset markets: A comparison between winner-take-all tournaments and elimination contests
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DOI: 10.1016/j.jedc.2016.11.006
Abstract: We investigate the impact of investment managers׳ tournament incentives on investment strategies and market efficiency, distinguishing between winner-take-all tournaments (WTA), where a minority wins, and elimination contests (EC), where a majority wins. Theoretically, we show… read more here.
Keywords: take tournaments; investment; winner take; elimination contests ... See more keywords