Generalized Contest Success Functions
AbstractThe 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 InfoPaper provided by Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics in its series Jena Economic Research Papers with number 2007-082.
Date of creation: 12 Nov 2007
Date of revision:
Contest; Rent Seeking;
Find related papers by JEL classification:
- C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances
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- NEP-ALL-2007-11-24 (All new papers)
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