Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5068616 | European Journal of Political Economy | 2006 | 5 Pages |
Abstract
This paper shows that, in the constrained case, the value weighted contest success function (CSF) maximizes not only total effort, but every objective function which is increasing in total effort and competitive balance. In the unconstrained case, a first price all-pay auction with a reserve price is optimal only if the impact of competitive balance on the objective is small. Otherwise, a modified value weighted CSF is optimal.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Marco Runkel,