Contests with productive effort

Ron Siegel

International Journal of Game Theory, 2014, vol. 43, issue 3, 515-523

Abstract: I consider competitions in which, conditional on winning or losing, the effort exerted by a competitor does not necessarily decrease his payoff. This happens, for example, in competitions for promotions in which workers are intrinsically motivated, and in research and development races in which better performance implies a higher payoff from winning. I characterize players’ equilibrium payoffs in closed form, thereby generalizing Siegel (Econometrica 77(1):71–92, 2009 ) payoff result to contests in which players’ payoff functions are non-monotonic. Copyright Springer-Verlag Berlin Heidelberg 2014

Keywords: Contests; All-pay auctions; Non-monotonic payoffs (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (8)

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DOI: 10.1007/s00182-013-0393-7

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