All-Moscow seminar "Mathematical methods of decision analysis in economics, finance and politics"

On Wednesday, January 20, the National Research University Higher School of Economics hosted a regular meeting of the All-Moscow seminar "Mathematical methods for analyzing optimal solutions in economics, business and politics".

Topic: "Fair and consistent prize allocation in competitions"
Speakers: Bas Dietzenbacher (Maastricht University)

Seminar leaders:
Doctor of Technical Sciences, prof. Aleskerov Fuad Tagievich
Doctor of Technical Sciences, prof. Podinovsky Vladislav Vladimirovich
Doctor of Technical Sciences, prof. Mirkin Boris Grigorievich

Annotation:
Given the final ranking of a competition, how should the total prize endowment be allocated among the competitors? We study consistent prize allocation rules satisfying elementary solidarity and fairness principles. In particular, we axiomatically characterize two families of rules satisfying anonymity, order preservation, and endowment monotonicity, which all fall between the Equal Division rule and the Winner-Takes-All rule. Specific characterizations of rules and subfamilies are directly obtained.