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Micro foundations of multi-prize lottery contests: a perspective of noisy performance ranking

机译：多奖彩票竞赛的微观基础：嘈杂的表演排名

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摘要

This article proposes a multi-prize noisy-ranking contest model. Contestants are ranked in descending order based on their perceived performance, which is subject to random perturbation, and they are rewarded based on their ranks. Under plausible conditions, we establish that our noisy performance ranking model is stochastically equivalent to the family of multi-prize lottery contests built upon ratio-form contest success functions. We further establish the equivalence of our model to a contest model that ranks contestants by their best performance out of multiple independent attempts. These results therefore shed light on the micro-foundations of the popularly adopted lottery contest models. The “best-shot ranking rule” reveals a common thread that connects a broad class of seemingly disparate competitive activities (such as rent-seeking contests, patent races, research tournaments), and unifies them through a common performance evaluation mechanism.
机译：本文提出了一种多奖嘈杂排名竞赛模型。参赛者会根据其感知的表现以降序排列，这会受到随机干扰，并且会根据其排名获得奖励。在合理的条件下，我们确定我们的嘈杂绩效排名模型在随机性上等效于基于比率形式竞赛成功函数构建的多奖彩票竞赛。我们进一步建立了模型与竞赛模型的对等关系，该竞赛模型根据多次独立尝试中的最佳表现对参赛者进行排名。因此，这些结果揭示了流行的彩票竞赛模型的微观基础。 “最佳排名规则”揭示了一个共同的思路，该思路将看似迥然不同的竞争活动（例如寻租竞赛，专利竞赛，研究竞赛）连接在一起，并通过共同的绩效评估机制将它们统一起来。

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  • 来源
    《Social Choice and Welfare》 |2012年第3期|497-517|共21页
  • 作者

    Qiang Fu; Jingfeng Lu;

  • 作者单位

    Department of Strategy and Policy National University of Singapore 15 Kent Ridge Drive Singapore 117592 Singapore;

    Department of Economics Monash University Clayton VIC 3800 Australia;

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  • 正文语种 eng
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