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Equivalence of optimal noisy-ranking contests and Tullock contests

  • Pelosse, Yohan

We analyze a noisy-ranking contest in which participants compete in several dimensions. The organizer randomly samples a number of dimensions and awards a prize to the most productive agent. When the contest is optimally designed, we establish a structural equivalence between this family of noisy-ranking contests and contests built upon Tullock contest success functions. Our result also shows that in this class of noisy-contests, the profit-maximization problem of the planner can be turned into a stochastic choice problem for a planner who has some deterministic preferences over the contestants’ win probabilities.

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Article provided by Elsevier in its journal Journal of Mathematical Economics.

Volume (Year): 47 (2011)
Issue (Month): 6 ()
Pages: 740-748

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Handle: RePEc:eee:mateco:v:47:y:2011:i:6:p:740-748
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