Cover Image

A general framework for studying contests

Spencer Bastani, Thomas Giebe, Oliver Gürtler
We develop a general framework to study contests, containing the well-known models of Tullock (1980) and Lazear & Rosen (1981) as special cases. The contest outcome depends on players' effort and skill, the latter being subject to symmetric uncertainty. The model is tractable, because a symmetric equilibrium exists under general assumptions regarding production technologies and skill distributions. We construct a link between our contest model and expected utility theory and exploit this link to revisit important comparative statics results of contest theory and show how these can be overturned. Finally, we apply our results to study optimal workforce composition.
Year of publication:
[2019]
Authors: Bastani, Spencer ; Giebe, Thomas ; Gürtler, Oliver
Publisher: Munich, Germany : CESifo, Center for Economic Studies & Ifo Institute
Subject: contest theory | symmetric equilibrium | heterogeneity | risk | decision theory | Entscheidungstheorie | Decision theory | Spieltheorie | Game theory | Risikoaversion | Risk aversion
freely available
Full text |
www.cesifo.org
www.cesifo.org
Check Google Scholar
In German libraries (KVK)
I need help

Which error do you want to report?

Report: URL of this record is broken

Please note: Sometimes more than one URL is available for a resource. Please click on "More Options" to display these URLs

Report: Addition of an URL to that resource

Please note: Sometimes more than one URL is available for a resource. Please click on "More Options" to display these URLs

Report: The language(s) of that resource is/are…

Please note: Required language not in the list? Please use comment field

Report: Addition of an identifier to that resource

Report: report typo

Report: Add statement

Report: Add keywords

Please use the commentary box to describe other errors

Would you like to receive a feedback?

Please type the code from the image

For general questions please use this address.

Persistent link: https://www.econbiz.de/10012138813
Similar items by subject
Similar items by person