function of contestants’ eort. They are used widely in many areas of economics that employ contest games, from tournaments and …

function of contestants' effort. They are used widely in many areas of economics that employ contest games, from tournaments …

simple asymmetriccontest in which contestants dier in the effectiveness of their efforts? Fortwo-player contests the answer …

. The variety of economic situations that can be described as contests has attracted enormous attention from economic … theorists. Despite the extensive theoretical research of contests, very little empirical research has been done to evaluate the … simultaneous lottery contests: a grand contest, two multiple prize settings (equal and unequal prizes), and a contest which …

competition: winner-take-all contests won by the best performer, winner-take-all lotteries where probability of success is … proportional to performance, and proportional-prize contests in which rewards are shared in proportion to performance. We introduce …-take-all contests. The lottery contests have the same Nash equilibrium as proportional prizes, but induce contestants to choose higher …

We provide an overview of experimental literature on contests and point out the two main phenomena observed in most …

the contest in the first stage. We show that in contrast to one-shot contests in the same setting, heterogeneous players …

Standard theoretical prediction is that rational economic agents participating in rent-seeking contests should engage …