Showing 71 - 80 of 156,683
We characterize the equilibrium of the all-pay auction with general convex cost of effort and sequential effort choices … to their choice of timing. In the most prominent equilibrium the player with the lowest cost of effort wins the auction …
Persistent link: https://www.econbiz.de/10013318118
We generalize Klumpp, Konrad and Solomon's model (KKS Model) to multi-contestant sequential Colonel Blotto Games with prize functions where any contestant's prizes only depend on this contestant's own number of winning rounds. We show that with weakly monotonic prize functions and CSFs...
Persistent link: https://www.econbiz.de/10013321925
This paper provides a fully fledged equilibrium analysis for two-player sequential-move contests with complete information, while allowing for a full spectrum of the contest's accuracy and players' asymmetry. For a strong-lead contest, an interior equilibrium (both players are active) prevails...
Persistent link: https://www.econbiz.de/10014263571
We study an all-pay contest with multiple identical prizes ("lifeboat seats"). Prizes are partitioned into subsets of prizes ("lifeboats"). Players play a twostage game. First, each player chooses an element of the partition ("a lifeboat"). Then each player competes for a prize in the subset...
Persistent link: https://www.econbiz.de/10013119516
We study an all-pay contest with multiple identical prizes ("lifeboat seats"). Prizes are partitioned into subsets of prizes ("lifeboats"). Players play a two-stage game. First, each player chooses an element of the partition ("a lifeboat"). Then each player competes for a prize in the subset...
Persistent link: https://www.econbiz.de/10009407607
When are political institutions stable? When do they tend toward reform? This paper examines a model of dynamic, endogenous institutional change. We introduce the class of dynamic political games (DPGs), dynamic games in which the political aggregation rules used at date t+1 are chosen by the...
Persistent link: https://www.econbiz.de/10014064925
opposing teams competes in a private value all-pay auction with asymmetric type distributions and effort effectiveness …
Persistent link: https://www.econbiz.de/10011569681
We propose an elementary theory of wars fought by fully rational contenders that features three of the main rationalist explanations for armed conflicts: uncertainty, commitment, and indivisibility. Two parties play a Markov game that combines stages of bargaining, where offers are made, with...
Persistent link: https://www.econbiz.de/10009506420
This paper investigates the implications of different prize structures on effort provision in dynamic (two-stage) elimination contests. Theoretical results show that, for risk-neutral participants, a structure with a single prize for the winner of the contest maximizes total effort, while a...
Persistent link: https://www.econbiz.de/10010260060
This paper proposes a tractable model of a dynamic contest where players have private information about the contest's prize. We show that private information helps to encourage players who have fallen behind, leading to an increase in aggregate incentives. We derive the optimal information...
Persistent link: https://www.econbiz.de/10012318681