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We characterize pure-strategy Nash equilibria for symmetric rent-seeking contests in which the contest success function is homogeneous of degree zero. The equilibrium strategies have a simple form. We give sufficient conditions for existence of an equilibrium. Copyright Springer-Verlag...
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<Para ID="Par1">We analyze an all-pay group contest in which individual members’ efforts are aggregated via the best-shot technology and the prize is a public good for the winning group. The interplay of within-group free-riding and across-group competition allows for a wide variety of equilibria, according...</para>
Persistent link: https://www.econbiz.de/10011151155
We investigate the private provision of a public good whose level is determined by the maximum effort made by a group member. Costs of effort are either commonly known or privately known. For symmetric perfect-information games, any number of players may be active and we characterize the unique...
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