André DE PALMA
(CES, ENS Cachan)
"Multi-player, Multi-prize, Imperfectly Discriminating Contests"
avec Soumyanetra Munshi
Abstract : This paper models success probability in imperfectly discriminating contests involving multiple players and multiple prizes. This, in fact, turns out to be a generalization of Tullock’s contest success function to a multi-player, multi-prize situation. The model can be used to analyse efforts exerted by individuals in various real-life situations, like obtaining seats in congested public transportation vehicles or obtaining admission into elite educational institutes. We propose a probability model, derive the equilibrium efforts exerted, and analyse those efforts, the associated total costs and total dissipation, and explore pricing and number of `seats’. We also study two extensions of the model.