Expert opinion and compensation: evidence from a musical competition

Victor Ginsburgh and Jan van Ours

No 2002033, LIDAM Discussion Papers CORE from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)

Abstract: Pianists who achieve high scores in the Queen Elizabeth musical competition are rewarded by subsequent success. This is not surprising in itself, but it is not immediately clear whether this is caused by the score or because those who have high scores are better pianists. Data on eleven consecutive competitions make it possible to distinguish between the two explanations, since an unexpected situation allows us to use an instrumental variable (the randomly assigned order in which musicians appear at the competition), uncorrelated with ability, but correlated with the results of the competition.

Keywords: competition and success; unobserved true quality; expert opinion (search for similar items in EconPapers)
JEL-codes: L82 Z10 (search for similar items in EconPapers)
Date: 2002-05
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Citations: View citations in EconPapers (3)

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Related works:
Journal Article: Expert Opinion and Compensation: Evidence from a Musical Competition (2003)
Working Paper: Expert opinion and compensation: evidence from a musical competition (2003)
Working Paper: Expert opinion and compensation: evidence from a musical competition (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:cor:louvco:2002033

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