Munich Personal RePEc Archive

A general framework for studying contests

Bastani, Spencer and Giebe, Thomas and Gürtler, Oliver (2019): A general framework for studying contests.

There is a more recent version of this item available.
[thumbnail of FrameworkWP28Apr2020.pdf]

Download (367kB) | Preview


We develop a general framework for studying contests, including the well-known models of Tullock (1980) and Lazear & Rosen (1981) as special cases. The contest outcome depends on players' efforts and skills, the latter being subject to symmetric uncertainty. The model is tractable, because a symmetric equilibrium exists under general assumptions regarding production technologies and skill distributions. Using a link between our contest model and expected utility theory, we are able to derive new comparative statics results regarding how the size and composition of contests affect equilibrium effort, showing how standard results can be overturned. We also discuss the robustness of our results to changes in the information structure and the implications of our findings for the optimal design of teams.

Available Versions of this Item

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.