New contest success functions

Satya Chakravarty and Bhargav Maharaj
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Bhargav Maharaj: Ramakrishna Mission Vidyamandira, Belur, India

No 340, Working Papers from ECINEQ, Society for the Study of Economic Inequality

Abstract: Skaperdas (1996) characterized the contest success function (CSF), which stipulates the winning probabilities of the contestants, using respectively the scale invariance and translation invariance axioms. This paper first characterizes the entire family of CSFs that fulfils a convex mixture of the two axioms. This family contains the Skaperdas CSFs as special cases. Next, we consider two ordinal axioms, scale consistency and translation consistency, and characterize the respective classes of CSFs. While the former consists of the Skaperdas scale invariant and translational invariant CSFs and some new functional forms, the latter contains the Skaperdas translation invariant CSF and some additional CSFs that were not considered in the literature earlier.

Keywords: contest; success function; invariance axioms; ordinal axioms. (search for similar items in EconPapers)
JEL-codes: C70 D72 D74 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2014-09
New Economics Papers: this item is included in nep-gth
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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