Posted on Sun 05 November 2017 in Innovation, NPD • Tagged with contests, tournaments
I have been talking to some fellow academics for quite some time now about writing a paper that looks at contests and competition between contests. While that idea is still germinating, it did spawn an interesting thought about how to model stochastic participation in contests, one possibility I have documented …
Posted on Wed 01 November 2017 in Innovation, NPD • Tagged with contests, tournaments
One of my wonderful coauthors mistaking me for someone who watches sports, shared some “sports” sayings with me. One of these was the profound sounding but somewhat meaningless (at least to me) saying about changing the rules if you can’t win. Anyway, given that I am interested in economic …
Posted on Wed 23 September 2015 in Innovation, NPD • Tagged with contests, tournaments
Consider a firm which has two employees. We assume that the employees can either work on routine projects and put in efforts \(E_{i}\) (\(i = 1,2\)), in which case, the firm obtains reward \(E_{1} + E_{2}\) from these routine projects, and the employees obtain wages \(wE_{i}\). Note …