Efficient tournaments within teams
Jianpei Li and
RAND Journal of Economics, 2009, vol. 40, issue 1, 103-119
We analyze incentive problems in team and partnership structures where the only available information to condition a contract on is a partial and noisy ranking which specifies who comes first in efforts among the competing partners. This enables us to ensure both first‐best efficient effort levels for all partners and the redistribution of output only among partners. Our efficiency result is obtained for a wide range of cost and production functions.
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Persistent link: https://EconPapers.repec.org/RePEc:bla:randje:v:40:y:2009:i:1:p:103-119
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