相关论文: Process Utility in High-Stakes Competition

In many competitive settings, from education to politics, rules do not reward effort evenly, and thresholds (e.g., grade cutoffs or electoral majorities) make some moments disproportionately important. Success thus depends on efficiently…

Probabilistic properties of tennis scoring systems are examined and compared with best-of-K systems. A model, where each player has his/her own probability of winning his/her service point and which remains invariant for the duration of the…

Motivated by cost of computation in game theory, we explore how changing the utilities of players (changing their complexity costs) affects the outcome of a game. We show that even if we improve a player's utility in every action profile,…

With the aid of mathematical modelling (basic tool is the random walk with absorbing barriers) we derive subsequent formulas to study the effect of different versions of possible rules. For different rules the probability of winning a game,…

Winners-take-all situations introduce an incentive for agents to diversify their behavior, since doing so will result in splitting an eventual price with fewer people. At the same time, when the payoff of a process depends on a parameter…

Human behavioural patterns exhibit selfish or competitive, as well as selfless or altruistic tendencies, both of which have demonstrable effects on human social and economic activity. In behavioural economics, such effects have…

We study the utility maximization problem for power utility random fields in a semimartingale financial market, with and without intermediate consumption. The notion of an opportunity process is introduced as a reduced form of the value…

Individual sports competitions provide a natural setting for examining the relative importance of talent and luck/chance in achieving success. The belief that success is primarily due to individual abilities and hard work rather than…

This study explores strategic considerations in professional golf's Match Play format, challenging the conventional focus on individual performance. Leveraging PGA Tour data, we investigate the impact of factoring in an adversary's…

One common assumption in game theory is that any player optimizes a utility function that takes into account only its own payoff. However, it has long been observed that in real life players may adopt an altruistic or even spiteful…

A longstanding question in the judgment and decision making literature is whether experts, even in high-stakes environments, exhibit the same cognitive biases observed in controlled experiments with inexperienced participants. Massey and…

Value functions are used in sports applications to determine the optimal action players should employ. However, most literature implicitly assumes that the player can perform the prescribed action with known and fixed probability of…

In applied game theory the motivation of players is a key element. It is encoded in the payoffs of the game form and often based on utility functions. But there are cases were formal descriptions in the form of a utility function do not…

We consider a continuous-time market with proportional transaction costs. Under appropriate assumptions we prove the existence of optimal strategies for investors who maximize their worst-case utility over a class of possible models. We…

We describe a two-stage mechanism that fully implements the set of efficient outcomes in two-agent environments with quasi-linear utilities. The mechanism asks one agent to set prices for each outcome, and the other agent to make a choice,…

We consider an infinite dimensional optimization problem motivated by mathematical economics. Within the celebrated "Arbitrage Pricing Model", we use probabilistic and functional analytic techniques to show the existence of optimal…

We study contests where the designer's objective is an extension of the widely studied objective of maximizing the total output: The designer gets zero marginal utility from a player's output if the output of the player is very low or very…

Success in sports is a complex phenomenon that has only garnered limited research attention. In particular, we lack a deep scientific understanding of success in sports like tennis and the factors that contribute to it. Here, we study the…

We relate the strategy sets that a player ends up with after refining his own strategies according to two very different models of rationality: namely, utility maximization and regret minimization.

We all have preferences when multiple choices are available. If we insist on satisfying our preferences only, we may suffer a loss due to conflicts with other people's identical selections. Such a case applies when the choice cannot be…