The first-order approach in rank-order tournaments

Oliver Gürtler

Economics Letters, 2011, vol. 111, issue 3, 185-187

Abstract: The first-order approach in rank-order tournaments is addressed. It is demonstrated that the conditions given in the literature are not sufficient to guarantee concavity of agents' objective functions. Additional conditions are provided that ensure validity of the first-order approach.

Keywords: Rank-order; tournaments; First-order; approach; Concave; objective; function (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:111:y:2011:i:3:p:185-187

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