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Contribution Details

Type Working Paper
Scope Discipline-based scholarship
Title Contest success functions: the common-pool perspective
Organization Unit
  • Christian Ewerhart
  • English
Institution University of Zurich
Series Name Working paper series / Department of Economics
Number 195
ISSN 1664-7041
Number of Pages 39
Date 2015
Abstract Text The axiomatic route to the foundation of contest success functions (CSF) has proved to be both useful and prolific. The standard approach in the literature is based on the decision-theoretic notion that choice probabilities should be independent of irrelevant alternatives (Skaperdas, Economic Theory 1996). The present paper develops an alternative approach that suggests itself once the contest is re-interpreted as a common-pool resource problem. Proceeding along these lines, new axiomatizations are obtained for a variety of popular classes of CSFs, including the logit, Tullock, and difference-form CSFs. The axiomatizations provided are particularly parsimonious in the important special case of two contestants.
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Keywords Contest success functions, axiomatic approach, common-pool resource problems, Leistungswettbewerb, Erfolg, Konkurrenzmodell