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Multiple equilibria in Tullock contests

We find the sufficient conditions for the existence of multiple equilibria in Tullock-type contests, and show that asymmetric equilibria arise even under symmetric prize and cost structures. We then present existing contests where multiple equilibria exist under reasonably weak conditions.
Year of publication:
2011
Authors: Chowdhury, Subhasish M. ; Sheremeta, Roman M.
Published in:
Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 112.2011, 2, p. 216-219
Publisher: Elsevier
Keywords: Rent-seeking Contest Asymmetric equilibrium Multiple equilibria
Type of publication: Article
Source:
Persistent link: https://www.econbiz.de/10009146106
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