{"title":"Properties of Contests: Constructing contest success functions from best-responses\"","authors":"Luis C. Corchón, Marco Serena","doi":"10.2139/ssrn.2882537","DOIUrl":null,"url":null,"abstract":"We aim at characterizing which kind of functions can be rationalized as the best reply of payo¤-maximizing agents in contests for a fixed prize. We show that the rationalizability strongly di¤ers between Decisive Contests, where the prize is allocated with certainty, and Possibly Indecisive Contests, where the prize may not be awarded. In the latter, any arbitrary set of best reply functions is rationalizable, thus \"anything goes.\" In the former, and on the contrary, the best reply functions have to satisfy strong conditions.","PeriodicalId":300059,"journal":{"name":"Max Planck Institute for Tax Law & Public Finance Research Paper Series","volume":"13 5 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2017-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Max Planck Institute for Tax Law & Public Finance Research Paper Series","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.2882537","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 2
Abstract
We aim at characterizing which kind of functions can be rationalized as the best reply of payo¤-maximizing agents in contests for a fixed prize. We show that the rationalizability strongly di¤ers between Decisive Contests, where the prize is allocated with certainty, and Possibly Indecisive Contests, where the prize may not be awarded. In the latter, any arbitrary set of best reply functions is rationalizable, thus "anything goes." In the former, and on the contrary, the best reply functions have to satisfy strong conditions.
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