Contest Success Functions

• Published in: Economic theory Vol. 7; no. 2; pp. 283 - 290
• Main Author: Skaperdas, Stergios
• Format: Journal Article
• Language: English
• Published: Springer-Verlag 1996
• Subjects: Axiomatization; Axioms; Competition; Economic models; Economic theory; Endowments; Probabilistic modeling; Rent seeking behavior; Utility functions

Tournaments, conflict, and rent-seeking have been modelled as contests in which participants exert effort to increase their probability of winning a prize. A Contest Success Function (CSF) provides each player's probability of winning as a function of all player's efforts. In this paper th...