Munich Personal RePEc Archive

Welfare Maximizing Contest Success Functions when the Planner Cannot Commit

Corchon, Luis (2009): Welfare Maximizing Contest Success Functions when the Planner Cannot Commit.

WarningThere is a more recent version of this item available.
[img]
Preview
PDF
MPRA_paper_18761.pdf

Download (195kB) | Preview

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.

Available Versions of this Item

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.