Optimal rewards in contests
研究不完全信息下竞赛中与努力相关的奖励设计，分析设计者以总努力或最高努力为目标时的最优奖励，发现特定条件下奖励可能为负或随努力递减，且多奖励无优势。
We study all‐pay contests with effort‐dependent rewards under incomplete information. A contestant's value to winning depends not only on his type but also on the effort‐dependent reward chosen by the designer. We analyze which reward is optimal for the designer when his objective is either total effort or highest effort. We find that under certain conditions the optimal reward may either be negative or even decreasing in effort; however, we find no advantage to having multiple rewards.