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The Relationship of Efforts and Rewards in Tournaments

Student: Aleksandra Eliseeva

Supervisor: Egor Ianovski

Faculty: St.Petersburg School of Economics and Management

Educational Programme: Applied Economics and Mathematical Methods (Master)

Year of Graduation: 2021

Within the framework of this study, a tournament consisting of two rounds is modeled. The paper considers the conditions, provided that the organizer can divide the prize between the two rounds in such a way as to stimulate the implementation of a maximum of effort in the tournament. The result for two interrelated competitions was fully characterized. In the model the organizer’s main aim is to split the prize in such a way as to balance the additional incentive from winning in the first round and the negative effect of losing in order to reduce the discouragement effect.

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