A Micro Foundation of Generalized Multi-Prize Lottery Contests : A Noisy Ranking Perspective

  title={A Micro Foundation of Generalized Multi-Prize Lottery Contests : A Noisy Ranking Perspective},
  author={Qiang Fu and Jingfeng Lu},
This paper proposes a multi-prize noisy-ranking contest model. Contestants are ranked in descending order based on their perceived outputs, and rewarded by their ranks. A contestant’s perceivable output increases with his autonomous e¤ort, but is subjected to random perturbation. Under plausible conditions, the stochastic equivalence of the model presented in this paper with the family of (winnertake-all and multi-prize) lottery contests built upon ratio-form contest success functions is… CONTINUE READING

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