选择自己的运气:竞赛中的战略性冒险和努力
Topic: |
Choosing Your Own Luck: Strategic Risk Taking and Effort in Contests |
Time&Date: |
10:30 am - 12:00 pm, June 13, 2024 (Thursday) |
Venue |
Room 603, Administration Building |
Zoom Link: |
https://cuhk-edu-cn.zoom.us/j/8913862860?pwd=WDdDbFBRbW9hSTVyTTRTancvbmI0dz09 |
Speaker: |
Prof. Kyungmin (Teddy) Kim (Emory University) |
Abstract: |
We consider the problem of optimal contest design in an environment where contestants choose not only their effort, but also the distribution of shocks affecting their output. We show that the presence of such strategic risk taking has a stark effect on contest design: The winner-take-all contest, whereby the entire prize budget is allocated to the top performer, maximizes the expected effort (or output) of the agents regardless of the shape of their cost of effort. JEL Classification Codes: C72, C73 |
Biography: |
Kyungmin (Teddy) Kim is an Associate Professor of Economics at the Emory University. Prior to joining the faculty at Emory in 2019, Prof. Kim held positions at the University of Iowa, Hong Kong University of Science and Technology, and the University of Miami. Prof. Kim’s research focuses on information economics, bargaining theory, and search theory. His articles have been published in a number of leading journals including Econometrica, RAND Journal of Economics, and Journal of Economic Theory. Prof. Kim also serves as an Associate Editor of RAND Journal of Economics, Economic Theory, Economic Theory Bulletin and Korean Economic Review, and as a Guest Editor of Economic Theory special issue on Communication and Persuasion. |