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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/10008822063
-effort-maximizing (contest) designer should offer a larger prize to the strong player if and only if the contest is sufficiently noisy. Our … results are in contrast to conventional wisdom obtained from contest models with biased winner selection rules, in which …
Persistent link: https://www.econbiz.de/10013238191
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/10003950459
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/10010487967
expected total value of the battlefields won. A lottery contest success function is employed in each battlefield. Recent …
Persistent link: https://www.econbiz.de/10012984886
We consider two players' choice about the formation of an alliance ahead of conflict in a framework with incomplete …
Persistent link: https://www.econbiz.de/10013002527
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/10013025736
We survey recent theoretical and empirical literature on political economics of non-democracies. Nondemocratic regimes face multiple challenges to their rule, both internal, such as palace coups or breakdown of their support coalition, and external, such as mass protests or revolutions. We...
Persistent link: https://www.econbiz.de/10014092808
When are comparative statements credible? For instance, when can a professor rank different students for an employer, or a stock analyst rank different stocks for a client? We show that simple complementarity conditions ensure that an expert with private information about multiple issues can...
Persistent link: https://www.econbiz.de/10014029348
We consider a class of incomplete-information Colonel Blotto games in which N ≥ 2 agents are engaged in (N + 1) battlefields. An agent's vector of battlefield valuations is drawn from a generalized sphere in Lp-space. We identify a Bayes-Nash equilibrium in which any agent's resource...
Persistent link: https://www.econbiz.de/10012123363