  Given the final ranking of a competition, how should the total prize
endowment be allocated among the competitors? We study consistent prize
allocation rules satisfying elementary solidarity and fairness principles. In
particular, we axiomatically characterize several families of rules satisfying
anonymity, order preservation, and endowment monotonicity, which all fall
between the Equal Division rule and the Winner-Takes-All rule. Specific
characterizations of rules and subfamilies are directly obtained. To our
knowledge, this paper is the first that develops and motivates prize allocation
rules for rank-order competitions directly from axioms.
