Contests
Contests
Contest theory is an important part of game theory used to analyse different types of contests and conflicts. Traditional microeconomic models focus on situations where property rights are well defined, and agents voluntarily trade rights over goods or produce rights for new goods. However, much less focus has been given to other situations where agents do not trade property rights, but rather fight over them. Contests: Theory and Applications presents a state-of-the art discussion of the economics of contests from the perspective of both core theory and applications. It provides a new approach to standard topics in labour, education, welfare and development and introduces areas like voting, industrial organisation, mechanism design, sport, and military conflict. Using elementary mathematics, this book provides a versatile framework for navigating this growing area of study and serves as an essential resource for its wide variety of applications in economics and political science.
- Resumes a wide literature, about 320 articles and/or books, providing a complete coverage not only of central topics but on applications
- Provides 163 exercises that test or widen the subjects considered in the 12 chapters. These exercises are designed to assess understanding and encourage deeper exploration of the subject matter
- Provides applications of the results to most fields in economics. This ensures that the theories presented aren't merely academic exercises but have real-world applicability
Reviews & endorsements
'Carmen Beviá and Luis Corchón's Contests: Theory and Applications is a must-read introduction to contest theory. With clarity and depth, accessible yet rigorous, their book covers key concepts and real-world examples, from political campaigns to sports tournaments. Their work demonstrates how fruitfully economic theory can contribute to our understanding of conflict, making it an essential reading for anyone interested in learning and teaching about competitive dynamics.' Santiago Sanchez-Pages, King's College London
'Contests: Theory and Applications by Carmen Beviá and Luis C. Corchón masterfully demystifies the dynamics of competition across disciplines. This insightful tome bridges theoretical foundations with practical insights, making it indispensable for scholars and curious minds alike. It eloquently unveils the strategic complexities of contests, enriching readers' understanding of their pervasive influence on society.' Jingfeng Lu, National University of Singapore
'From sporting events to wars, Beviá and Corchón's comprehensive analysis sheds light on the strategic behavior that shapes our social and economic landscapes, and on possible policies such as affirmative action that can improve it. For researchers seeking to master the nuances of contest theory, Contests: Theory and Applications is an indispensable companion, while, for teachers, this book will be an invaluable resource that encompasses theory, application, and exercises. Engaging, insightful, and eminently readable, dive deeper into contest theory with this essential guide!' Subhasish M. Chowdhury, Professor of Economics, University of Sheffield
Product details
June 2024Paperback
9781009504393
238 pages
245 × 169 × 14 mm
0.42kg
Available
Table of Contents
- Preface
- Part I. Foundations:
- 1. An Introduction to Contests
- 2. Contest Success Functions (CSFs)
- 3. Equilibrium with Heterogeneous Agents
- 4. Foundations for Contests Success Functions
- Part II. Extensions:
- 5. Contests Between Groups
- 6. Sabotage
- 7. Dynamic Contests
- 8. Asymmetric Information
- Part III. Applications:
- 9. Contests in Other Environments: Draws, Large Contests and Entry
- 10. Contests in Classical Problems: Divisionalizacion, Monopoly Welfare Losses, Coase Theorem, Voting
- 11. Contests, Institutions, Wars and Economic Success
- 12. Contests: Social Welfare and Public Policy
- References
- Index.
