contests. Players may win a prize for winning each component contest, as well as a prize for winning the overall race. Each …We study equilibrium in a multistage race in which players compete in a sequence of simultaneous move component … component contest is an all-pay auction with complete information. We characterize the unique equilibrium analytically and …

earn a positive expected payoff from participating in the contest, which may explain why they participate. We also show … that it reduces the strong discouragement effects and hold-up problems that may otherwise emerge in such games. High own … ability dispersion selects such players into the contest and favors them in elimination contests. …

We characterize the equilibrium set of the n-player Hirshleifer contest with homogeneous valuations. A symmetric … in cut-throat competition, while any others become ultimately inactive. Of some conceptual interest is the observation …

While the game-theoretic analysis of conflict is often based upon the assumption of multiplicative noise, additive … the equilibrium set of the n-player difference-form contest with heterogeneous valuations. For high or intermediate levels … valuations, we obtain a partial uniqueness result for symmetric equilibria. As the contest becomes increasingly decisive, at …

which the player expending the greater resources wins. In equilibrium, contest effort concentrates on at most two adjacent … by which the allocation of prizes are governed by possibly repeated conflict. Our results contribute to an explanation … why. Compared to a single stage conflict, such structures can reduce the overall resources that are dissipated among the …

players to either overbid a standing bid or to abstain from bidding altogether. Many common forms of contest are elastic. In … any equilibrium of an elastic contest, there is complete rent dissipation for all but at most one player. This result is … used to show that in any sufficiently decisive anonymous standard contest, any equilibrium is an all-pay auction …

In this chapter, we review the recent literature on conflict and appropriation. Allowing for the possibility of … conflict, which amounts to recognizing the possibility that property rights are not perfectly and costlessly enforced … technologies of conflict. A central objective of this research is to identify the effects of conflict on economic outcomes: the …