Contest functions: Theoretical foundations and issues in estimation

نویسنده

  • Hao Jia
چکیده

Contest functions (alternatively, contest success functions) determine probabilities of winning and losing as a function of contestants’ e¤ort. They are used widely in many areas of economics that employ contest games, from tournaments and rent-seeking to con‡ict and sports. We …rst examine the theoretical foundations of contest functions and classify them into four types of derivation: stochastic, axiomatic, optimally-derived, and microfounded. The additive form (which includes the ratio or “Tullock”functional form) can be derived in all four di¤erent ways. We also exlore issues in the econometric estimation of contest functions, including concerns with data, endogeneity, and model comparison. *Address: School of Accounting, Economics and Finance, Deakin University, Geelong Waurn Ponds Campus, Locked Bag 20000, Geelong, VIC 3220, Australia. Email: [email protected] **Address: Department of Economics, School of Social Sciences, University of California, Irvine, 92697, USA. Email: [email protected] ***Address: School of Accounting, Economics and Finance, Deakin University, Melbourne Burwood Campus, 221 Burwood Hwy, Burwood, VIC 3125, Australia. Email: [email protected]

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Technologies of Conflict

We explore theoretical foundations and issues in the empirical estimation of conflict technologies. Such technologies are probabilistic choice functions that depend on the military capacities of adversaries, where the military capacities themselves depend on economic inputs via ordinary production functions. Different classes of functional forms can be derived stochastically or axiomatically. T...

متن کامل

State Estimation Filters

Precise state estimation is crucial for any autonomous system as it enables the system to provide appropriate control inputs to its actuators. However, estimation is challenging as it must be able to handle imprecise system models (often described by complex non-linear functions) as well as noisy sensor measurements in order to compute the system’s state. In this work, we explore three approach...

متن کامل

تأثیر اصلاحات مالی بر رشد اقتصادی و ایجاد همگرایی بین کشورهای برگزیده‌ی اسلامی

The theoretical literature of economic growth (endogenous and exogenous growth model) and empirical evidence in developed and developing countries show that without financial reform, sustainable development is impossible. The positive effects of financial sector development on economic growth and developments in the international financial sector make a more important issue. Some economists bel...

متن کامل

Estimating Water Quality Benefits: Theoretical and Methodological Issues

Knowledge of the benefits and costs to water users is required for a complete assessment of policies to create incentives for water quality improving changes in agricultural production. A number of benefit estimation methods are required to handle the varying nature of water quality effects. This report reviews practical approaches and theoretical foundations for estimating the economic value o...

متن کامل

Unity within Diversity: Foundations and Dynamics of National Identity in Iran

The article provides a critical assessment of the more recent literature that relies on theoretical frameworks such as post modernism and globalization to deal with national identity, ethnicity and cultural mobility. Explaining sensitive and complicated issues such as identity requires the extensive use of the native historical, cultural and sociological sources related to the Iranian experienc...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

عنوان ژورنال:

دوره   شماره 

صفحات  -

تاریخ انتشار 2011