A Threshold Interpretation of the Ratio-Form Contest Success Function

Jeremy Petranka ()

No 2010-06, Working Papers from Indiana University, Kelley School of Business, Department of Business Economics and Public Policy

Abstract: Ratio-form contest success functions have been widely used due to their appealing axiomatic properties. Existing microfoundational models offer additional justifications for their use in specific economic applications. I propose a new structure under which a ratio-form contest success function can be derived as a limit result using an underlying contest with multiple rounds and threshold success levels. This model generalizes the stochastic equivalence of ratio-form contest success functions and patent race games, allowing greater fl exibility in the underlying structural interpretation. I additionally formulate a spatial interpretation of the model and apply the general structure to existing models of conflict.

Date: 2009-09, Revised 2010-03
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