【主讲】Dr. Zhijun Chen (University of Auckland)
【主题】Collusion and Biased Tournaments
【时间】2014年7月2日 (周三) 15：30-17：00
【地点】上海财经大学经济学院楼801室
【语言】英文
【摘要】Tournaments are vulnerable to collusion. This paper finds that biased tournaments can do better in fighting collusion than unbiased. When agents can collude on low efforts, introducing some bias in tournaments differentiates agents incentive constraints for high efforts and provides the favored agent higher incentives to deviate from collusion. We show that giving adequate bias reduces the principals incentive cost for preventing collusion but granting excessive bias would instead increase the incentive cost, and thus the optimal level of bias is endogenously determined.
