The Ponds Dilemma
Bibliographic Data
| ID | 9715141 |
|---|---|
| Authors | John Morgan (0000-0001-9224-5483, University of California), Dana Sisak (0000-0001-5358-4511, Erasmus University Rotterdam and Tinbergen Institute), Felix Várdy (International Monetary Fund) |
| Year | 2018 |
| Volume | 128 |
| Issue | 611 |
| Pages | 1634-1682 |
| Publication date | 2018-06-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/ecoj.12473 |
| OpenAlex | W3126043331 |
| Language | EN |
| Citations received | 4 |
| References cited | 19 |
Is it better to be a big fish in a small pond or a small fish in a big pond? To find out, we study self-selection into contests. Our simple model predicts that: 1) entry into the big pond–in terms of show-up fees, number or value of prizes–is non-monotonic in ability; 2) entry into the more meritocratic pond is likewise non-monotonic, exhibiting two interior extrema and disproportionately attracting very low ability types; and 3) changes in rewards can produce unexpected effects. E.g., higher show-up fees may lower entry, while higher prizes or more meritocracy may lower the average ability of entrants
Biology · Dilemma · Economics · Fish · Fish <Actinopterygii> · Fishery · Market economy · Meritocracy · Microeconomics · Monotonic function · Selection (genetic algorithm · Simple (philosophy · Statistics · Value (mathematics · Computer Science · Consumer Market Behavior and Pricing · Experimental Behavioral Economics Studies · Game Theory and Applications · Mathematics
| Unique citing works | 4 |
|---|---|
| Citations per year | 0,57 |
| Citation span | 2019 - 2026 (8) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 4 |