Contests with multi-tasking Volkswirtschaft - Open Access LMU - Teil 01/03

    • Bildung

The standard contest model in which participants compete in a single dimension is well understood and documented. Multi-dimension extensions are possible but are liable to increase the complexity of the contest structure, mitigating one of its main advantages: simplicity. In this paper we propose an extension in which competition ensues in several dimensions and a competitor that wins a certain number of these is awarded a prize. The amount of information needed to run the contest is hence limited to the number of dimensions won by each player. We look at the design of this contest from the point of view of maximizing effort in the contest (per dimension and totally), and show that there will be a tendency to run small contests with few dimensions. The standard Tullock model and its results are encompassed by our framework.

The standard contest model in which participants compete in a single dimension is well understood and documented. Multi-dimension extensions are possible but are liable to increase the complexity of the contest structure, mitigating one of its main advantages: simplicity. In this paper we propose an extension in which competition ensues in several dimensions and a competitor that wins a certain number of these is awarded a prize. The amount of information needed to run the contest is hence limited to the number of dimensions won by each player. We look at the design of this contest from the point of view of maximizing effort in the contest (per dimension and totally), and show that there will be a tendency to run small contests with few dimensions. The standard Tullock model and its results are encompassed by our framework.

Top‑Podcasts in Bildung

Erklär mir die Welt
Andreas Sator
Eine Stunde History - Deutschlandfunk Nova
Deutschlandfunk Nova
Die Köpfe der Genies mit Maxim Mankevich
Maxim Mankevich
Easy German: Learn German with native speakers | Deutsch lernen mit Muttersprachlern
Cari, Manuel und das Team von Easy German
carpe diem – Der Podcast für ein gutes Leben
carpe diem
Quarks Science Cops
Quarks

Mehr von Ludwig-Maximilians-Universität München

Fakultät für Geowissenschaften - Digitale Hochschulschriften der LMU
Ludwig-Maximilians-Universität München
LMU Fakultät für Philosophie, Wissenschaftstheorie und Religionswissenschaft - Vorlesungen und Vorträge
Professoren der Fakultät für Philosophie, Wissenschaftstheorie und Religionswissenschaft
LMU Europarecht Vertiefung
Caspar Behme
Podcast Jüdische Geschichte
Abteilung für Jüdische Geschichte und Kultur, LMU München
LMU Examinatorium Öffentliches Recht
Dr. Martin Heidebach
MCMP – Mathematical Philosophy (Archive 2011/12)
MCMP Team