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Winner-takes-all games : strategic optimisation of rank
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Alpern, Steve and Howard, J. V. (2017) Winner-takes-all games : strategic optimisation of rank. Operations Research, 65 (5). pp. 1165-1176. doi:10.1287/opre.2017.1635 ISSN 0030-364X.
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Official URL: https://doi.org/10.1287/opre.2017.1635
Abstract
In many competitive situations (including nearly all sports) a player’s aim is not simply to maximise his score but to maximise its rank among all scores. Examples include sales contests (where the salesman with highest monthly sales gets a bonus) and patent races (where lowest time is best). We assume the score Xi of player i is obtained costlessly, so that his utility is the probability of having the best score. This gives a constant-sum game. All that matters for player i is the distribution of his score, so we assume he chooses from a given convex set of distributions Fi . We call such games Distribution Ranking Games, and characterise their solution for various classes of the distribution sets Fi , such as distributions with given mean or moment, where we extend a result of Bell and Cover
Item Type: | Journal Article | ||||||||
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Subjects: | H Social Sciences > HB Economic Theory Q Science > QA Mathematics |
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Divisions: | Faculty of Social Sciences > Warwick Business School > Operational Research & Management Sciences Faculty of Social Sciences > Warwick Business School |
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Library of Congress Subject Headings (LCSH): | Game theory, Gambling, Portfolio management | ||||||||
Journal or Publication Title: | Operations Research | ||||||||
Publisher: | Institute for Operations Research and the Management Sciences (I N F O R M S) | ||||||||
ISSN: | 0030-364X | ||||||||
Official Date: | 2017 | ||||||||
Dates: |
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Volume: | 65 | ||||||||
Number: | 5 | ||||||||
Page Range: | pp. 1165-1176 | ||||||||
DOI: | 10.1287/opre.2017.1635 | ||||||||
Status: | Peer Reviewed | ||||||||
Publication Status: | Published | ||||||||
Access rights to Published version: | Restricted or Subscription Access | ||||||||
Date of first compliant deposit: | 5 April 2017 | ||||||||
Date of first compliant Open Access: | 11 August 2017 | ||||||||
Funder: | United States. Air Force. Office of Scientific Research (AFOSR) | ||||||||
Grant number: | Grant FA9550-14-1-0049 |
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