Welfare Maximizing Contest Success Functions when the Planner Cannot Commit

Luis C. Corchon ()
Authors registered in the RePEc Author Service: Matthias Dahm ()

MPRA Paper from University Library of Munich, Germany

Abstract: We analyze how a contest organizer chooses the winner when the contestants.efforts are already exerted and commitment to the use of a given contest success function is not possible. We define the notion of rationalizability in mixed-strategies to capture such a situation. Our approach allows to derive different contest success functions depending on the aims and attitudes of the decider. We derive contest success functions which are closely related to commonly used functions providing new support for them. By taking into account social welfare considerations our approach bridges the contest literature and the recent literature on political economy.

Keywords: Endogenous Contests; Contest Success Function; Mixed-Strategies. (search for similar items in EconPapers)
JEL-codes: D74 D72 C72 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cdm
Date: 2009-11-12
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Downloads: (external link)
http://mpra.ub.uni-muenchen.de/18761/ original version (application/pdf)
http://mpra.ub.uni-muenchen.de/20074/ revised version (application/pdf)

Related works:
Journal Article: Welfare maximizing contest success functions when the planner cannot commit (2011)
Working Paper: Welfare Maximizing Contest Success Functions when the Planner Cannot Commit (2010)
Working Paper: Welfare maximizing contest success functions when the planner cannot commit (2009)
Working Paper: Welfare maximizing contest success functions when the planner cannot commit
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Persistent link: http://EconPapers.repec.org/RePEc:pra:mprapa:18761

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