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We consider a general class of imperfectly discriminating contests with privately informed players. We show that findings by Athey (2001) imply the existence of a Bayesian Nash equilibrium in monotone pure strategies.
Persistent link: https://www.econbiz.de/10010333804
We consider a variant of the Tullock rent-seeking contest. Under symmetric information we determine equilibrium … the distribution costs are drawn from and on the exact specification of the contest success function. …
Persistent link: https://www.econbiz.de/10010334145
Can comparative statements be credible even when absolute statements are not? For instance, can a professor credibly rank different students for a prospective employer even if she has an incentive to exaggerate the merits of each student? Or can an analyst credibly rank different stocks even if...
Persistent link: https://www.econbiz.de/10010263292
This paper studies a contest in which players with unobservable types may form an alliance in a pre-stage of the game … effort choice in the contest and there exist equilibria in which all types prefer to form an alliance. If the formation of an …
Persistent link: https://www.econbiz.de/10010487890
In a society composed of a ruler and its citizens: what are the determinants of the political equilibrium between these two? This paper approaches this problem as a game played between a ruler who has to decide the distribution of the aggregate income and a group of agents/citizens who have the...
Persistent link: https://www.econbiz.de/10011324912
We present a general model of two players contest with two types of efforts. Contrary to the classical models of … contest, where each player chooses a unique effort, and where the outcome depends on the efforts of all the players … the defence of the opponent. This model has many applications like political campaigning, wars, competition among lobbies …
Persistent link: https://www.econbiz.de/10010312400
We consider a variant of the Tullock rent-seeking contest. Under symmetric information we determine equilibrium …
Persistent link: https://www.econbiz.de/10010270753
competition does not necessarily hold. Segmentation equilibrium in which higher seller types choose the more expensive …
Persistent link: https://www.econbiz.de/10010264746
We consider a two-player contest for a prize of common but uncertain value. We show that less resources are spent in …Der Autor untersucht einen Wettbewerb mit zwei Spielern um einen Gewinn von allgemeinem, jedoch unbekanntem Wert. Er …
Persistent link: https://www.econbiz.de/10010307000
Decision makers lacking crucial specialist know-how often consult with better informed but biased experts. In our model the decision maker's choice problem is binary and her preferred option depends on the state of the world unknown to her. The expert observes the state and sends a report to the...
Persistent link: https://www.econbiz.de/10011430094