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- W2591708629 abstract "We aim at characterizing which kind of functions could be explained (rationalized) as the best reply of payoff-maximizing agents in contests for a fixed prize. We show that the rationalizability strongly differs 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 goes. In the former, best reply functions have to satisfy strong conditions in two-person contests. But with more than two contestants, we have a partial result showing that anything goes as well. We end the paper with an outline of possible applications of our results to R&D and labor markets." @default.
- W2591708629 created "2017-03-16" @default.
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- W2591708629 date "2016-01-01" @default.
- W2591708629 modified "2023-09-25" @default.
- W2591708629 title "Properties of Contests" @default.
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- W2591708629 doi "https://doi.org/10.2139/ssrn.2882537" @default.
- W2591708629 hasPublicationYear "2016" @default.
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