标题:Axiomatizing multi-prize nested lottery contests: A complete and strict ranking perspective
作者:Lu, Jingfeng; Wang, Zhewei
作者机构:[Lu, Jingfeng] Natl Univ Singapore, Dept Econ, Singapore 119260, Singapore.; [Wang, Zhewei] Shandong Univ, Sch Econ, Jinan 250100, Peoples R China.
通讯作者:Wang, ZW
通讯作者地址:[Wang, ZW]Shandong Univ, Sch Econ, 27 Shanda Nanlu, Jinan 250100, Peoples R China.
来源:JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION
出版年:2015
卷:116
页码:127-141
DOI:10.1016/j.jebo.2015.04.010
关键词:Multi-prize contest; Contest ranking function; Nested lottery contest;; Independence from irrelevant contestants; Independence from irrelevant; ranks
摘要:Multiple prizes are usually awarded in contests (e.g., internal promotions, school admissions, sports, etc.) and players exert effort to increase their chances for winning a higher prize. A multi-prize contest model must provide each player's probabilities of winning each prize as functions of all players' efforts. We find that the key notion of "hypothetical subcontests" in the contest axiomatization literature initiated by Skaperdas (1996) can be appropriately interpreted and precisely defined from a ranking perspective, as well as the relevant axioms of "Subcontest Consistency" and "Independence of Irrelevant Contestants" (IIC). When there are less than four contestants (exclusive), a set of axioms properly adapted from those in Skaperdas (1996) and Clark and Riis (1998a) are sufficient and necessary for axiomatizing the widely adopted multi-prize nested lottery contest of Clark and Riis (1996a). When there are more than four contestants (inclusive), including a new axiom of "Independence of Irrelevant Ranks" (IIR) is necessary and sufficient. (C) 2015 Elsevier B.V. All rights reserved.
收录类别:SCOPUS;SSCI
WOS核心被引频次:4
Scopus被引频次:4
资源类型:期刊论文
原文链接:https://www.scopus.com/inward/record.uri?eid=2-s2.0-84929300704&doi=10.1016%2fj.jebo.2015.04.010&partnerID=40&md5=7287dfd3959420e4dbe3cfa96cab0421
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