Please use this identifier to cite or link to this item:
|Title:||Micro foundations of multi-prize lottery contests: A perspective of noisy performance ranking|
|Authors:||Fu, Q. |
|Citation:||Fu, Q., Lu, J. (2012). Micro foundations of multi-prize lottery contests: A perspective of noisy performance ranking. Social Choice and Welfare 38 (3) : 497-517. ScholarBank@NUS Repository. https://doi.org/10.1007/s00355-011-0542-5|
|Abstract:||This article proposes a multi-prize noisy-ranking contest model. Contestants are ranked in descending order based on their perceived performance, which is subject to random perturbation, and they are rewarded based on their ranks. Under plausible conditions, we establish that our noisy performance ranking model is stochastically equivalent to the family of multi-prize lottery contests built upon ratio-form contest success functions. We further establish the equivalence of our model to a contest model that ranks contestants by their best performance out of multiple independent attempts. These results therefore shed light on the micro-foundations of the popularly adopted lottery contest models. The "best-shot ranking rule" reveals a common thread that connects a broad class of seemingly disparate competitive activities (such as rent-seeking contests, patent races, research tournaments), and unifies them through a common performance evaluation mechanism. © 2011 Springer-Verlag.|
|Source Title:||Social Choice and Welfare|
|Appears in Collections:||Staff Publications|
Show full item record
Files in This Item:
There are no files associated with this item.
checked on Feb 14, 2019
WEB OF SCIENCETM
checked on Feb 5, 2019
checked on Dec 29, 2018
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.