Journal ArticleDOI
Contest success functions
TLDR
In this article, the additive CSF employed in most contests is axiomatized, with an independence from irrelevant alternatives property as the key axiom, and two frequently used functional forms are also axiomated: one in which winning probabilities depend on the ratio of players' efforts, and the other in which winners' probability depends on the difference in efforts.Abstract:
Tournaments, conflict, and rent-seeking have been modelled as contests in which participants exert effort to increase their probability of winning a prize. A Contest Success Function (CSF) provides each player's probability of winning as a function of all players' efforts. In this paper the additive CSF employed in most contests is axiomatized, with an independence from irrelevant alternatives property as the key axiom. Two frequently used functional forms are also axiomatized: one in which winning probabilities depend on the ratio of players' efforts and the other in which winning probabilities depend on the difference in efforts.read more
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Rationalist explanations for war
TL;DR: The authors show that there will exist negotiated settlements that rational states would mutually prefer to a risky and costly fight under very broad conditions, under the assumption that states have both private information about capabilities and resolve and the incentive to misrepresent it.
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Efficient Rent Seeking
TL;DR: The problem here is that the average cost and marginal cost are not necessarily identical as mentioned in this paper, and the reality is much more complicated than most of the papers in this volume* assume that rent-seeking activity discounts the entire rent to be derived.
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