This study examines contests in which prizes are affected linearly by aggregate effort. In particular, this research analyzes a contest among individuals as a benchmark to scrutinize the effects of prize externality and sharing-rule information on rent-dissipation rate and social welfare....

In a tournament, agents form coalitions, and the coalition with largest power wins the tournament. We introduce a new solution concept for the tournaments, called no threat equilibrium (NTE). NTE is a partition of the agents, where prudent and farsighted agents have no incentive to deviate....