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Generalized Contest Success Functions

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Author Info

  • Birendra K. Rai

    (Max Planck Institute of Economics)

  • Rajiv Sarin

    (Texas A+M University)

Abstract

The key element of models of contest is the Contest Success Function (CSF) which specifies the winning probabilities of agents. The existing axiomatizations of CSFs assume that contestants can make only one type of investment. This paper generalizes these axiomatizations to the case where each agent can have multiple types of investments. This allows us to provide a unified framework to extend and interpret the results of Skaperdas (1996) and Clark and Riis (1998), and rationalize some seemingly ad hoc CSFs used by applied researchers.

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Bibliographic Info

Paper provided by Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics in its series Jena Economic Research Papers with number 2007-082.

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Date of creation: 12 Nov 2007
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Handle: RePEc:jrp:jrpwrp:2007-082

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Related research

Keywords: Contest; Rent Seeking;

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Cited by:
  1. Carmen Beviá & Luis C. Corchón, 2011. "Endogenous strength in conflicts," Economics Working Papers we1113, Universidad Carlos III, Departamento de Economía.
  2. Corchón, Luis & Dahm, Matthias, 2011. "Welfare maximizing contest success functions when the planner cannot commit," Journal of Mathematical Economics, Elsevier, vol. 47(3), pages 309-317.
  3. Jia, Hao & Skaperdas, Stergios & Vaidya, Samarth, 2013. "Contest functions: Theoretical foundations and issues in estimation," International Journal of Industrial Organization, Elsevier, vol. 31(3), pages 211-222.
  4. Vesperoni, Alberto, 2013. "A contest success function for rankings," NEPS Working Papers 8/2013, Network of European Peace Scientists.
  5. Kai Konrad & Stergios Skaperdas, 2012. "The market for protection and the origin of the state," Economic Theory, Springer, vol. 50(2), pages 417-443, June.
  6. Stergios Skaperdas, 2011. "Proprietary Public Finance: On Its Emergence and Evolution Out of Anarchy," Working Papers 101110, University of California-Irvine, Department of Economics.
  7. Jeremy Petranka, 2009. "A Threshold Interpretation of the Ratio-Form Contest Success Function," Working Papers 2010-06, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy, revised Mar 2010.
  8. Münster, Johannes, 2008. "Group contest success functions," Discussion Papers, Research Unit: Market Processes and Governance SP II 2008-20, Social Science Research Center Berlin (WZB).

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