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Looking at the data, what is your guess about which type of tournament has higher (better) performance. Is your answer to part a consistent with the predictions of contest theory? Why or why not?

01 / 10 / 2021 Assignment

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One of the predictions of contest theory is that effort is greater in symmetric contests, where ability is relatively equal as compared to asymmetric contests, where ability is unequal. In “the incentive effects of leveling the playing field,” Franke tests this idea with data on amateur golf tournaments. The paper is here.

.archives-ouvertes.fr/hal-00670763/document”>https://hal.archives-ouvertes.fr/hal-00670763/document

He compares performance when the score uses unadjusted scores versus those that adjusts score by handicap. (Handicap scoring levels the playing field for the lower ability golfer.) Here is the distribution of performance difference in tournaments that use gross (unadjusted) vs net (adjusted). (Performance is measured using the Stabelford system. If there were no difference in performance, the distribution should be approximately binomial with a mean of zero.

a. Looking at the data, what is your guess about which type of tournament has higher (better) performance.

b. Is your answer to part a consistent with the predictions of contest theory? Why or why not?

The table shows regression coefficients (standard errors in parenthesis) for the independent variables. The dependent variable is score. (again, under the stabelford system higher is better).

c. Type is a dummy variable with 1 for net score tournaments and 0 for gross score tournaments. Explain the meaning of the coefficient.

d. Is it significant at the 5% level? Explain.

e. What is the t-statistic? ________________

f. The variables PAR and CR are measures of difficulty of the course, and PHANDICAP is a measure of the golfer’s ability. Why are these variables included in the regression equation?



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