In this paper we first characterize the class of contest success functions (CSF) that yield contests with dominant strategies. Then we study the optimal contest as a decision problem under uncertainty. We consider the classical criteria of Wald, Laplace, Hurwicz and Savage. We find that the CSF...

We provide a model of dynamic duopoly in which firms face financial constraints and disappear when they are unable to fulfill them. We show that, in some cases, Cournot outputs are no longer supported in equilibrium, because if these outputs were set, a firm may have incentives to ruin the...

We compare two contest. Decentralized in which there are several independent contests with non overlapping contestants and Centralized in which all contestants fight for a unique prize which is the sum of all prizes in the small contests. We study the relationship between payoffs and efforts...