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This paper analyzes how all-pay auctions with endogenous prizes can be used to provide effort incentives. We show that wide classes of effort distributions can be implemented as equilibrium outcomes of such games. We also ask how all-pay auctions have to be structured so as to induce high...
Persistent link: https://www.econbiz.de/10010316920
results to contests with incomplete informa tion. Two assumptions are imposed on the information structure. First, the players …
Persistent link: https://www.econbiz.de/10010332037
from the good. Our model can be interpreted in two ways: Each of the players has a non-linear investment cost in the …
Persistent link: https://www.econbiz.de/10010336001
We consider a two group contest over a group specific public good comparing two situations: (i) when all players act independently; and (ii) when the players of each group cooperate. This comparison leads us to the conclusion that it is possible for one group to contribute more (and have a...
Persistent link: https://www.econbiz.de/10010336057
This paper studies a large class of imperfectly discriminating contests, referred to as elastic contests, that induce … definite answers regarding the extent of rent dissipation in Tullock contests with intermediate values of the decisiveness …
Persistent link: https://www.econbiz.de/10011282491
The symmetric two-player Hirshleifer (1989) contest is shown to admit a unique equilibrium. The support of the equilibrium strategy is finite and includes, in particular, the zero expenditure level. We also establish a lower bound for the cardinality of the support and an upper bound for the...
Persistent link: https://www.econbiz.de/10011969197
hierarchical contests and comparing the implications of centralized with decentralized governance. Increasing information available …
Persistent link: https://www.econbiz.de/10012028604
This paper considers all-pay contests in which the relationship between bids and allocation reflects a small amount of …, political lobbying, electoral competition, optimally biased contests, the empirical analysis of rent-seeking, and dynamic … contests. …
Persistent link: https://www.econbiz.de/10011663167
This paper considers all-pay contests in which the relationship between bids and allocations reflects a small amount of … licensing, political lobbying, electoral competition, optimally biased contests, the empirical analysis of rent-seeking, and … dynamic contests. …
Persistent link: https://www.econbiz.de/10011784281
Siegel's (2009) results characterizing the set of equilibrium payoffs in all-pay contests, including the all-pay auction as a …
Persistent link: https://www.econbiz.de/10010316873