This paper outlines how the theory of contests is applied to professional team sports leagues. In the first part, we present the traditional Tullock contest and explain some basic properties of the equilibrium. We will then extend this static contest to a two-period model in order to analyze...

Two contestants compete against each other twice in a repeated contest. They invest and build up a human capital stock in order to increase their probability of winning a prize in each contest. In the second-period contest, any positive or negative adjustments of the human capital stock...

Two contestants compete against each other twice in a repeated contest. They invest and build up a human capital stock in order to increase their probability to win a prize in each contest. In the second-period contest, any positive or negative adjustment of the human capital stock inherited...

In this article, we analyze the dynamic competition between two platform firms (A&B) in two-sided markets with network externalities. In Period 1, platform A or B wins the contest in a first stage and can serve the two-sided market monopolistically in a second stage. In Period 2, the two...

Research and development of novel medicines for human therapy commonly takes over a decade before significant revenues from sales are forthcoming. How can biotechnology companies be founded and grow successfully in an industry with such extended innovation processes? The book investigates this...

In this article, I analyze the effects of future liquidity constraints on the investment behavior of two contestants with asymmetric prize valuations in a dynamic contest model. Contestants compete in two consecutive Tullock contests in order to win a contest prize in each period. The loser of...