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Konrad (2007) - Strategy In Contests-An Introduction (view source)
Revision as of 16:02, 26 April 2010
, 16:02, 26 April 2010→Additive Noise
===Additive Noise===
Consider a problem with two risk neutral contestants where the observation of effort is based on the actual effort plus some idiosyncratic noise, that is <math>x_i + \epsilon_i \forall i \,</math> is observed. Letting <math>\epsilon = \epsilon_2 - \epsilon_1 \,</math> we can write the contest success function as:
<math>
