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I characterize the optimal accuracy level r of an unbiased Tullock contest between two players with heterogeneous prize … contest with an all-pay auction equilibrium (r≥2). By contrast, if she aims at maximizing the expected aggregate effort or the … winner's expected effort, she will choose a contest with a pure-strategy equilibrium, and the optimal accuracy level r<2 …
Persistent link: https://www.econbiz.de/10013172435
polarization, a key mechanism theorized as increasing the chances of violent conflict, remains less understood. We argue that …
Persistent link: https://www.econbiz.de/10012416556
Harris, Reny, and Robson (1995) added a public randomization device to dynamic games with almost perfect information to ensure existence of subgame perfect equilibria (SPE). We show that when Nature's moves are atomless in the original game, public randomization does not enlarge the set of SPE...
Persistent link: https://www.econbiz.de/10012806463
agents with commonly known types. The agents in each set compete in a lottery (Tullock) contest, and then are assortatively …
Persistent link: https://www.econbiz.de/10014418053
contestants, which varies the balance of the playing field. A generalized lottery contest typically yields no closed …-form equilibrium solutions, which nullifies the usual implicit programming approach to optimal contest design and limits analysis to … technique applies to a broad array of contest design problems, and the analysis it enables generates novel insights into …
Persistent link: https://www.econbiz.de/10012415462
Two groups produce a network good perceived by a third party, such as a police or military institution, as a "public bad", referred to as "crime" for simplicity. These two groups, considered mafias, are assumed to be antagonists, whether they are enemies or competitors in the same market,...
Persistent link: https://www.econbiz.de/10014636243
This paper aims to solve two fundamental problems on finite or infinite horizon dynamic games with complete information. Under some mild conditions, we prove the existence of subgame-perfect equilibria and the upper hemicontinuity of equilibrium payoffs in general dynamic games with simultaneous...
Persistent link: https://www.econbiz.de/10012308627
This paper provides a general study of a contest modeled as a multiplayer incomplete-information, all-pay auction with … sequential entry. The contest consists of multiple periods. Players arrive and exert efforts sequentially to compete for a prize …
Persistent link: https://www.econbiz.de/10014576711
We investigate observed rent dissipation-the ratio of the total costs of rent seeking to the monetary value of the rent-in winner-take-all and share contests, where preferences are more general than usually assumed in the literature. With concave valuation of the rent, we find that contests can...
Persistent link: https://www.econbiz.de/10014418203
competition and the intergenerational transmission of identities within the family. We find nation-building efforts are generally … characterized by fast interventions. We show that a zero-sum conflict over resources pushes long-run dynamics toward homogeneous …
Persistent link: https://www.econbiz.de/10012308623