In this article, I analyze a class of contest success functions (CSFs) that satisfy Luce's Choice Axiom. I show that the functional forms of these CSFs can be fully identified if they are characterized by a partial differential equation (PDE), which has several intuitive economic interpretations. This PDE approach provides foundations for popular CSFs and their generalizations.
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On a Class of Contest Success Functions
Hao Jia1
1Deakin University, hao.jia@deakin.edu.au
Citation Information: The B.E. Journal of Theoretical Economics. Volume 10, Issue 1, Pages –, ISSN (Online) 1935-1704, DOI: 10.2202/1935-1704.1672, July 2010
Publication History:
- Published Online:
- 2010-07-29
Keywords: contest success functions; Luce’s Choice Axiom; partial differential equation
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