ISKAKOV, Mikhail; ISKAKOV, Alexey; ZAKHAROV, Alexey - Center for Operations Research and Econometrics (CORE), … - 2014
It is well known that a pure-strategy Nash equilibrium does not exist for a two-player rent-seeking contest when the contest success function parameter is greater than two. We analyze the contest using the concept of equilibrium in secure strategies, which is a generalization of the Nash...