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Parallel Contests

Author

Listed:
  • Erwin Amann
  • Heng Qiao

Abstract

A problem of Parallel Contests is raised and modeled. The equilibria in final situations of parallel contests are analyzed and characterized and the behaviours of contestants with different abilities� parameters are explained. Given that the values of the prizes in the two contests are different, in equilibrium a group of strong players prefer entering into the contest with a higher prize. However, except the group of stronger ones, in equilibrium others will enter into both contests because they obtain equal expected revenue from the two contests, though these weak ones do not have equal probabilities to enter into the two parallel contests. Under the condition of rationalizability, this paper characterizes the respective distributions of contestants� abilities in the two parallel contests, proves the existence of the equilibrium in parallel contests and completes the analysis of the parallel contests from the perspective of contestants.

Suggested Citation

  • Erwin Amann & Heng Qiao, 2008. "Parallel Contests," TWI Research Paper Series 36, Thurgauer Wirtschaftsinstitut, Universität Konstanz.
    • Handle: RePEc:twi:respas:0036
    as

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    References listed on IDEAS

    as
    1. Benny Moldovanu & Aner Sela, 2008. "The Optimal Allocation of Prizes in Contests," Springer Books, in: Roger D. Congleton & Arye L. Hillman & Kai A. Konrad (ed.), 40 Years of Research on Rent Seeking 1, pages 615-631, Springer.
    2. Moldovanu, Benny & Sela, Aner, 2006. "Contest architecture," Journal of Economic Theory, Elsevier, vol. 126(1), pages 70-96, January.
    3. Gradstein, Mark & Konrad, Kai A, 1999. "Orchestrating Rent Seeking Contests," Economic Journal, Royal Economic Society, vol. 109(458), pages 536-545, October.
    4. Stefan Szymanski, 2010. "The Economic Design of Sporting Contests," Palgrave Macmillan Books, in: The Comparative Economics of Sport, chapter 1, pages 1-78, Palgrave Macmillan.
    5. Richard L. Fullerton & R. Preston McAfee, 1999. "Auctioning Entry into Tournaments," Journal of Political Economy, University of Chicago Press, vol. 107(3), pages 573-605, June.
    Full references (including those not matched with items on IDEAS)

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