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AA00260492-20180000-0049  
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Title
Title Axiomatic characterizations of contest success functions and exploration of equilibrium  
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Name Chakravarty, Satya R.  
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Affiliation Indian Statistical Institute  
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Name Maharaj, Bhargav  
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Affiliation Ramakrishna Mission Vidyamandira  
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Tokyo  
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Name Keio Economic Society, Keio University  
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Date
Issued (from:yyyy) 2018  
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Source Title
Name Keio economic studies  
Name (Translated)  
Volume 54  
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Year 2018  
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Start page 49  
End page 72  
ISSN
00229709  
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Abstract
Skaperdas (1996) characterized the Tullock (1980)-Hirschleifer (1989) contest success functions (CSFs), which stipulate the winning probabilities of the contestants, using respectively the scale invariance and translation invariance axioms. This paper first characterizes the entire family of CSFs that fulfils an μ-independence axiom, a convex mixture of the two invariance axioms, where 0 ≤μ≤ 1 is a value judgment parameter. This family contains the Tullock and Hirschleifer CSFs as special cases. Next, we consider two axioms related to ranking, scale consistency and translation consistency, and characterize the respective classes of CSFs. It has been demonstrated that scale consistency and translation consistency, in the presence of other axioms, characterize the same functional forms identified by scale and translation invariances respectively. Finally, we define an intermediate μ-consistency condition and classify all CSFs satisfying the same. We also explore the possibility of existence of Nash equilibrium of the contest game satisfying μ-independence and the corresponding equilibrium efforts.
 
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Keyword
Contest  

non-cooperative game  

success function  

invariance axioms  

ranking axioms  

characterizations  

Nash equilibrium  
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Language
英語  
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Aug 06, 2019 15:24:33  
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Aug 06, 2019 15:24:33  
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/ Public / Faculty of Economics / Keio economic studies / 54 (2018)
 
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