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Contests with delegation and initial probabilities of winning

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  • Pan Sang Kang

Abstract

We study a two-player contest in which each player is endowed with an initial probability of winning the prize and hires a delegate who expends effort on each player’s behalf. We show that (i) the players’ equilibrium delegation contracts are monotonic in the initial probabilities of winning and the impact parameter; (ii) the delegates’ equilibrium effort levels are monotonic in the impact parameter but not in the initial probabilities of winning; and (iii) a contest designer may attain various objectives of contest design by choosing a proper value of the impact parameter.

Suggested Citation

  • Pan Sang Kang, 2023. "Contests with delegation and initial probabilities of winning," Applied Economics Letters, Taylor & Francis Journals, vol. 30(18), pages 2631-2636, October.
    • Handle: RePEc:taf:apeclt:v:30:y:2023:i:18:p:2631-2636
    DOI: 10.1080/13504851.2022.2102125
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