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Title:
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Foundations for contest success functions
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Author:
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Corchón, Luis C.; Dahm, Matthias
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Other authors:
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Universitat Rovira i Virgili. Departament d'Economia |
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Resum:
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In the literature the outcome of contests is either interpreted as win probabilities or
as shares of the prize. With this in mind, we examine two approaches to contest success
functions. In the first we analyze the implications of contestants' incomplete information
concerning the "type" of the contest administrator. While in the case of two contestants
this approach can rationalize prominent contest success functions, we show that it runs into
difficulties when there are more agents. Our second approach interprets contest success
functions as sharing rules and establishes a connection to bargaining and claims problems
which is independent of the number of contestants. Both approaches provide foundations for
popular contest success functions and guidelines for the definition of new ones.
Keywords: Endogenous Contests, Contest Success Function.
JEL Classification: C72 (Noncooperative Games), D72 (Economic Models of Political
Processes: Rent-Seeking, Elections), D74 (Conflict; Conflict Resolution; Alliances). |
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Publication date:
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2008 |
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Subject (UDC):
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338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. Preus |
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Subject(s):
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Ciències polítiques -- Models matemàtics |
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Rights:
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Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/) |
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Document type:
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Working Paper |
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ISSN:
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1988 - 0812
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Collection:
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Documents de treball del Departament d'Economia;2008-08
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Share:
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