Repeated Contests with Draws

Jörg Franke and Lars P. Metzger

No 1016, Ruhr Economic Papers from RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen

Abstract: We consider a simple contest game with draws where with some probability none of the contestants is selected as winner. If such an outcome occurs, then the contest is repeated in the next period unless either one of the contestants wins the prize or until a final last period is reached. Allowing for finite as well as infinite time horizons and different variations in the timing of effort decisions, the theoretical analysis of this model reveals that the dynamic contest structure has profound implications for intertemporal effort substitution and contest revenue.

Keywords: Contest theory; repeated contest; dynamic contest; contest with draws (search for similar items in EconPapers)
JEL-codes: C72 C73 D72 (search for similar items in EconPapers)
Date: 2023
New Economics Papers: this item is included in nep-gth, nep-mfd and nep-mic
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:rwirep:1016

DOI: 10.4419/96973182

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