|
|
Yosef Mealem, Shmuel Nitzan, and Takashi Ui | 236 Usually, and are interpreted as the contestants’ efforts . However, has two possible interpretations . It can be interpreted as the probability of contestant 1 winning an indivisible prize, or as his share in a divisible prize . In turn, the winning probability of contestant 2 or his share in the prize is equal to . Henceforth, we use the second interretation, as in Corchon and Dahm ( 2010 ) , Franke et al . ( 2013 ) , Lee and Lee ( 2012 ) , and Warneryd ( 1998 ) . Although under this interpretation there is no uncertainty in the model and the contestants compete on the certain shares of a divisible prize, we nevertheless preserve the terms “contest” and “CSF” . The asymmetry between the impact of the contestants’ efforts is captured by the parameter . In our extended setting, we do enable the contest designer to control as first suggested by Lien ( 1986, 1990 ) and later by Clark and Riis , This means that the designer can apply struct...
To the book |
|
|