The Optimal Prize Structure of Symmetric Tullock Contests

We show that the optimal prize structure of symmetric n-player Tullock tournaments assigns the entire prize pool to the winner, provided that a symmetric pure strategy equilibrium exists. If such an equilibrium fails to exist under the winner-take-all structure, we construct the optimal prize structure which improves existence conditions by dampening efforts. If no such optimal equilibrium exists, no symmetric pure strategy equilibrium induces positive efforts

Year of publication:	2009
Authors:	Schweinzer, Paul ; Segev, Ella
Publisher:	[S.l.] : SSRN

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