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Contest success functions: the common-pool perspective


Ewerhart, Christian (2015). Contest success functions: the common-pool perspective. Working paper series / Department of Economics 195, University of Zurich.

Abstract

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.

Abstract

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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Additional indexing

Item Type:Working Paper
Communities & Collections:03 Faculty of Economics > Department of Economics
Working Paper Series > Department of Economics
Dewey Decimal Classification:330 Economics
JEL Classification:D24, D42, D62, D72, Q2
Uncontrolled Keywords:Contest success functions, axiomatic approach, common-pool resource problems
Language:English
Date:June 2015
Deposited On:11 Jun 2015 12:25
Last Modified:16 Aug 2017 10:26
Series Name:Working paper series / Department of Economics
Number of Pages:39
ISSN:1664-7041
Free access at:Official URL. An embargo period may apply.
Official URL:http://www.econ.uzh.ch/static/wp/econwp195.pdf
Related URLs:http://www.econ.uzh.ch/static/workingpapers.php

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