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A Fullerton–McAfee research tournament with multiple prizes is strategically equivalent to a sequential multi-prize Tullock contest. Contest designers, aiming to maximize total research efforts, should therefore allocate a given prize sum to a single prize rather than to several ones.
•Research tournaments can award single big prizes or multiple smaller ones.•With multiple prizes, research tournaments and sequential contests are equivalent.•In research tournaments, one big prize is more effective than several small ones.