Related papers: Process Utility in High-Stakes Competition
We study the effects of randomness on competitions based on an elementary random process in which there is a finite probability that a weaker team upsets a stronger team. We apply this model to sports leagues and sports tournaments, and…
We introduce a compact probabilistic model for two-player and two-team (four-player) squash matches, along with a practical skill-comparison rule derived from point-scoring probabilities. Using recorded shot types and court locations, we…
Tennis is one of the world's biggest and most popular sports. Multiple researchers have, with limited success, modeled the outcome of matches using probability modelling or machine learning approaches. The approach presented here predicts…
A valuation for a player in a game in extensive form is an assignment of numeric values to the players moves. The valuation reflects the desirability moves. We assume a myopic player, who chooses a move with the highest valuation.…
Multi-round competitions often double or triple the points awarded in the final round, calling it a bonus, to maximize spectators' excitement. In a two-player competition with $n$ rounds, we aim to derive the optimal bonus size to maximize…
We consider different choice procedures such as scoring rules, rules, using majority relation, value function and tournament matrix, which are used in social and multi-criteria choice problems. We focus on the study of the properties that…
A tournament on $n$ agents is a complete oriented graph with the agents as vertices and edges that describe the win-loss outcomes of the $\binom{n}{2}$ matches played between each pair of agents. The winner of a tournament is determined by…
A decision maker's utility depends on her action $a\in A \subset \mathbb{R}^d$ and the payoff relevant state of the world $\theta\in \Theta$. One can define the value of acquiring new information as the difference between the maximum…
Patterns of wins and losses in pairwise contests, such as occur in sports and games, consumer research and paired comparison studies, and human and animal social hierarchies, are commonly analyzed using probabilistic models that allow one…
This paper presents an empirical investigation of the relation between decision speed and decision quality for a real-world setting of cognitively-demanding decisions in which the timing of decisions is endogenous: professional chess.…
Serves, especially first serves, are very important in professional tennis. Servers choose their serve directions strategically to maximize their winning chances while trying to be unpredictable. On the other hand, returners try to predict…
As the widely applied method for measuring matching assortativeness in a transferable utility matching game, a matching maximum score estimation is proposed by \cite{fox2010qe}. This article reveals that combining unmatched agents,…
I study sequential contests where the efforts of earlier players may be disclosed to later players by nature or by design. The model has a range of applications, including rent seeking, R&D, oligopoly, public goods provision, and tragedy of…
The aim of this article is to propose a core game theory model of transaction costs wherein it is indicated how direct costs determine the probability of loss and subsequent transaction costs. The existence of optimum is proven, and the way…
This paper addresses the problem of utility maximization under uncertain parameters. In contrast with the classical approach, where the parameters of the model evolve freely within a given range, we constrain them via a penalty function. We…
We study the structural complexity of bimatrix games, formalized via rank, from an empirical perspective. We consider a setting where we have data on player behavior in diverse strategic situations, but where we do not observe the relevant…
Polling systems with losses are useful mathematical objects that can model many practical systems like travelling salesman problem with recurrent requests. One of the less studied yet an important aspect in such systems is the disparity in…
Strategic information is valuable either by remaining private (for instance if it is sensitive) or, on the other hand, by being used publicly to increase some utility. These two objectives are antagonistic and leaking this information might…
We consider the strategic interaction of traders in a continuous-time financial market with Epstein-Zin-type recursive intertemporal preferences and performance concerns. We derive explicitly an equilibrium for the finite player and the…
We study a class of two-player repeated games with incomplete information and informational externalities. In these games, two states are chosen at the outset, and players get private information on the pair, before engaging in repeated…