Contest Theory: A Survey
In: Handbook of Game Theory and Industrial Organization, Forthcoming
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In: Handbook of Game Theory and Industrial Organization, Forthcoming
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In: Oxford review of economic policy, Band 19, Heft 4, S. 512-529
ISSN: 1460-2121
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In: Scottish journal of political economy: the journal of the Scottish Economic Society, Band 55, Heft 3, S. 353-368
ISSN: 0036-9292
This paper applies contest theory to provide an integrated framework of a team sports league and analyzes the competitive interaction between clubs. We show that dissipation of the league revenue arises from 'overinvestment' in playing talent as a direct consequence of the ruinous competitive interaction between clubs. This overinvestment problem increases if the discriminatory power of the contest function increases, revenue-sharing decreases, and the size of an additional exogenous prize increases. We further show that clubs invest more when they play in an open league compared with a closed league. Moreover, the overinvestment problem within open leagues increases with the revenue differential between leagues.
In: Scottish journal of political economy: the journal of the Scottish Economic Society, Band 55, Heft 3, S. 353-368
ISSN: 1467-9485
ABSTRACTThis paper applies contest theory to provide an integrated framework of a team sports league and analyzes the competitive interaction between clubs. We show that dissipation of the league revenue arises from 'overinvestment' in playing talent as a direct consequence of the ruinous competitive interaction between clubs. This overinvestment problem increases if the discriminatory power of the contest function increases, revenue‐sharing decreases, and the size of an additional exogenous prize increases. We further show that clubs invest more when they play in an open league compared with a closed league. Moreover, the overinvestment problem within open leagues increases with the revenue differential between leagues.
In: Dynamic games and applications: DGA, Band 8, Heft 3, S. 468-489
ISSN: 2153-0793
In: Journal of policy modeling: JPMOD ; a social science forum of world issues, Band 35, Heft 5, S. 685-696
ISSN: 0161-8938
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Working paper
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Working paper
In: CESifo Working Paper No. 7993
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