We introduce and axiomatize a class of single‐winner contest success functions that embody the possibility of a draw. We then analyze the game of contest that our success functions induce, having different prizes delivered in the occurrence of a win and a draw. We identify conditions for the existence and uniqueness of a symmetric interior Nash equilibrium and show that equilibrium efforts and equilibrium rent dissipation can be larger than in a Tullock contest (with no possibility of a draw) due to increased competition even if the draw‐prize is null. These results suggest that a contest designer may profit from introducing the possibility of a draw. Finally, we show that this approach naturally extends to multiprize contests with multiple draws across different subsets of the set of players. (JEL C72, D72, D74) 相似文献
Skew normal distribution is an alternative distribution to the normal distribution to accommodate asymmetry. Since then extensive studies have been done on applying Azzalini’s skewness mechanism to other well-known distributions, such as skew-t distribution, which is more flexible and can better accommodate long tailed data than the skew normal one. The Kumaraswamy generalized distribution (Kw ? F) is another new class of distribution which is capable of fitting skewed data that can not be fitted well by existing distributions. Such a distribution has been widely studied and various versions of generalization of this distribution family have been introduced. In this article, we introduce a new generalization of the skew-t distribution based on the Kumaraswamy generalized distribution. The new class of distribution, which we call the Kumaraswamy skew-t (KwST) has the ability of fitting skewed, long, and heavy-tailed data and is more flexible than the skew-t distribution as it contains the skew-t distribution as a special case. Related properties of this distribution family such as mathematical properties, moments, and order statistics are discussed. The proposed distribution is applied to a real dataset to illustrate the estimation procedure. 相似文献
For the model considered by Chaturvedi, Pandey and Gupta (1991), two classes of sequential procedures are developed to construct confidence regions (which may be interval, ellipsoidal or spherical) of ‘pre-assigned width and coverage probability’ for the parameters of interest and for the minimum risk point estimation (taking loss to be quadratic plus linear cost of sampling) of the nuisance parameter. Second-Order approximations are derived for the expected sample size, coverage probability and ‘regret’ associated with the two classes of sequential procedures. A simple and direct method of obtaining the asymptotic distribution of the stopping time is provided. By means of examples, it is illustrated that several estimation problems can be tackled with the help of proposed classes of sequential procedures. 相似文献
The use of government incentives tied to market prices as means of boosting corporate social responsibility (CSR) has expanded notably in recent decades. Enhanced business tax deductions for charitable donations and credits for conservation easements are notable cases. While providing incentives for socially desirable behavior to achieve legislative goals has intuitive appeal, the broader economic consequences are not always fully understood. In this study, we examine such wider consequences for supply chains when subsidies for CSR are offered. One effect we identify is that since incentives are typically tied to market value, firms have not only an added incentive to achieve societal objectives (say by donating inventory) but also an incentive to raise output (retail) market prices. A second consequence is that since firms forgo potential revenues by engaging in socially desired behavior, they become increasingly sensitive to supplier pricing; in an uncoordinated supply chain this leads to input (wholesale) price concessions. Among other things, the results underscore that incentives put in place to meet broader societal objectives also have notable ramifications for suppliers, retailers, and consumers in primary markets. 相似文献
Statistics and Computing - Testing for mutual independence among several random vectors is a challenging problem, and in recent years, it has gained significant attention in statistics and machine... 相似文献
Population Research and Policy Review - The relationship between mental health and social disadvantage in low- and middle-income countries is poorly understood. Our study contributes the first... 相似文献
The prominence of market orientation as a core organizational concept, as well as recent discussions about its contributions and shortcomings, suggest that it is time to assess the large and expanding body of research surrounding the construct. Our research takes a systematic qualitative approach to assessing extant research on market orientation, identifying problems, patterns, and paradoxes in the literature. Specifically, we provide an integration of the burgeoning empirical research on market orientation, based on a thorough synthesis of articles published over more than 25 years of inquiry. Bringing together the different strands of inquiry that have guided knowledge accumulation on market orientation, we are able to identify major theoretical gaps and omissions in the literature. We also find that while market orientation research has made considerable strides over the years, much work still needs to be done as voids remain that need to be addressed in future investigations.
Several models for studies related to tensile strength of materials are proposed in the literature where the size or length
component has been taken to be an important factor for studying the specimens’ failure behaviour. An important model, developed
on the basis of cumulative damage approach, is the three-parameter extension of the Birnbaum–Saunders fatigue model that incorporates
size of the specimen as an additional variable. This model is a strong competitor of the commonly used Weibull model and stands
better than the traditional models, which do not incorporate the size effect. The paper considers two such cumulative damage
models, checks their compatibility with a real dataset, compares them with some of the recent toolkits, and finally recommends
a model, which appears an appropriate one. Throughout the study is Bayesian based on Markov chain Monte Carlo simulation. 相似文献
Remittances by immigrants and temporary workers of Indian origin in industrialized countries are a growing part of India’s
economy. In this exploratory study we examine the social and economic characteristics affecting the remittance pattern of
working households (or families) of Indian origin residing in the United States. As most previous studies have been undertaken
at the macroeconomic level, our main contribution lies in identifying the household level factors that may influence remittances.
Using an online and a mail-in survey of 39 households we find some of the significant factors affecting remittances. We also
validate some of the remittance-related policies of the Indian government.
S. Aaron Hegde (Corresponding author)Email:
Rupayan Gupta
is currently Assistant Professor of Economics at Roger Williams University, Rhode Island, USA. He received his PhD in economics
from Iowa State University. His current research focuses on the political economy of international conflict, design of international
institutions, the role of media in exposing corruption, and the costs and benefits of international migration.
S. Aaron Hegde
is Assistant Professor of Economics and Director of the Environmental Resource Management Program at California State University,
Bakersfield. He received his PhD in economics from North Carolina State University, where he focused on risk management within
the broiler industry. His current research focuses on migration, especially undocumented migration; agricultural economics
of developing countries; risk management and environmental issues. 相似文献