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The predictive power of three prominent tournament formats

Publication at Faculty of Social Sciences, Faculty of Mathematics and Physics, Centre for Economic Research and Graduate Education |
2008

Abstract

Tournaments of heterogenous candidates can be thought of as probabilistic mechanisms that select high-quality agents. We quantify the efficiency of such selection by the likelihood of selecting the best player, here termed "predictive power." We study three widely used tournament formats: contests, binary elimination tournaments, and round-robin tournaments.