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Intensity of Effort in Contests with Few or Many Winners

Author

Listed:
  • Dimitry Rtischev

Abstract

The paper applies multi-prize contest theory to explore the connection between scarcity of prizes and intensity of competition. Equilibrium levels of effort are compared across contests that differ in the number of prizes and in which the utility of winning or losing is influenced by the relative numbers of winners and losers. Application to the study of socioeconomic competition is discussed.

Suggested Citation

  • Dimitry Rtischev, 2020. "Intensity of Effort in Contests with Few or Many Winners," Gakushuin Economic Papers, Gakushuin University, Faculty of Economics, vol. 57(1-2), pages 93-108.
    • Handle: RePEc:abc:gakuep:57-1-2-6
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    File URL: https://www.gakushuin.ac.jp/univ/eco/gakkai/pdf_files/keizai_ronsyuu/contents/contents2020/5701/5701rtischev/5701rtischev.pdf
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    More about this item

    Keywords

    contest theory; socioeconomic competition; psychosocial utility;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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