Generalized contest success functions

Birendra Rai, Rajiv Sarin

Research output: Contribution to journalArticleResearchpeer-review

45 Citations (Scopus)

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 (Econ Theory 7:283a??290, 1996) and Clark and Riis (Econ Theory 11:201a??204, 1998), and rationalize some seemingly ad hoc CSFs used by applied researchers
Original languageEnglish
Pages (from-to)139 - 149
Number of pages11
JournalEconomic Theory
Volume40
Issue number1
DOIs
Publication statusPublished - 2009
Externally publishedYes

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