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Convexity of Prize Sequences in Contests

Xiao, Jun - 2016

This note studies contests in which multiple participants compete for two distinct prizes. The participants have distinct constant marginal costs, which are commonly known. We show that the contests have a unique Nash equilibrium, and we characterize the equilibrium payoffs and strategies in...

Persistent link: https://www.econbiz.de/10012991889

Lotteries vs. All-Pay Auctions in Fair and Biased Contests

Epstein, Gil S. - 2012

-type endogenously determined lottery is always superior to an all-pay-auction; it yields larger expected efforts (revenues) for the … optimal lottery is equal to his expected payoff under the optimal all-pay auction …

Persistent link: https://www.econbiz.de/10013096475

Repeated contests with draws

Franke, Jörg; Metzger, Lars - 2023

Teilnehmer als Gewinner ausgewählt wird. Wenn ein solches Ergebnis eintritt, wird der Wettbewerb in der nächsten Periode …

Persistent link: https://www.econbiz.de/10014285495

Impulsive Behavior in Competition : Testing Theories of Overbidding in Rent-Seeking Contests

Sheremeta, Roman M. - 2018

Contests are commonly used in the workplace to motivate workers, determine promotion, and assign bonuses. Although contests can be very effective at eliciting high effort, they can also lead to inefficient effort expenditure (overbidding). Researchers have proposed various theories to explain...

Persistent link: https://www.econbiz.de/10014132470

A Nested Contest : Tullock Meets the All-Pay Auction

Amegashie, J. Atsu - 2012

(lottery) contest and the all-pay auction. A Nash equilibrium exists for all parameters of the nested contest. If and only if … aggregate efforts in the all-pay auction are higher than the aggregate efforts in the Tullock contest, then aggregate efforts in … the nested contest may not lie between aggregate efforts in the all-pay auction and aggregate efforts in the Tullock …

Persistent link: https://www.econbiz.de/10014168636

Majoritarian Contests with Asymmetric Battlefields : An Experiment

Montero, Maria; Possajennikov, Alex; Sefton, Martin; … - 2013

We investigate a version of the classic Colonel Blotto game in which individual battles may have different values. Two players allocate a fixed budget across battlefields and each battlefield is won by the player who allocates the most to that battlefield. The winner of the game is the player...

Persistent link: https://www.econbiz.de/10014150669

Asymmetric All-Pay Contests with Heterogeneous Prizes

Xiao, Jun - 2015

This paper studies complete-information, all-pay contests with asymmetric players competing for heterogeneous prizes. In these contests, each player chooses a performance level or "score". The first prize is awarded to the player with the highest score, the second -- less valuable -- prize to...

Persistent link: https://www.econbiz.de/10013026559

Unique equilibrium in contests with incomplete information

Ewerhart, Christian; Quartieri, Federico - 2013

Szidarovszky and Okuguchi (Games and Economic Behavior, 1997) have provided useful conditions for the existence of a unique pure-strategy Nash equilibrium in rent-seeking games of complete information. In this paper, we generalize their results to contests with incomplete informa tion. Two...

Persistent link: https://www.econbiz.de/10010208517

The optimal allocation of prizes in contests with costly entry

Liu, Bin; Lu, Jingfeng - In: International journal of industrial organization 66 (2019), pp. 137-161

Persistent link: https://www.econbiz.de/10012321234

The Logic of Two-Level Games with Endogenous Lobbying : Case of International Environmental Agreements

Haffoudhi, Houda - 2017

International environmental agreements (IEAs) are increasingly important in a globalized economy. The aim of our paper is study the effect of political pressure groups-lobbies- on the size and stability of IEAs. To this purpose we use the framework of two-level games to explain how national...

Persistent link: https://www.econbiz.de/10012964613