Showing 1 - 10 of 24
This paper studies Colonel Blotto games with two battlefields where one player has a head start in the form of additional troops on one of the battlefields. Such games arise naturally in marketing, electoral competition, and military conflict. Sion and Wolfe (1957) have shown that, if the...
Persistent link: https://www.econbiz.de/10013441504
While the game-theoretic analysis of conflict is often based upon the assumption of multiplicative noise, additive noise such as assumed by Hirshleifer (1989) may be equally plausible depending on the application. In this paper, we examine the equilibrium set of the n-player difference-form...
Persistent link: https://www.econbiz.de/10013441508
As pointed out by Sion and Wolfe (1957), a non-cooperative game on the unit square need not admit a Nash equilibrium, neither in pure nor in randomized strategies. In this paper, we consider finite approximations of the Sion-Wolfe game. For all parameter constellations relevant for the limit...
Persistent link: https://www.econbiz.de/10014333782
The n-player Tullock contest with complete information is known to admit explicit solutions in special cases, such as (i) homogeneous valuations, (ii) constant returns, and (iii) two contestants. But can that model be solved more generally? In this paper, we show that key characteristics of the...
Persistent link: https://www.econbiz.de/10015048683
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/10010332037
Any symmetric mixed-strategy equilibrium in a Tullock contest with intermediate values of the decisiveness parameter ("2 R É") has countably infinitely many mass points. All probability weight is concentrated on those mass points, which have the zero bid as their sole point of accumulation....
Persistent link: https://www.econbiz.de/10011282477
This paper studies a large class of imperfectly discriminating contests, referred to as elastic contests, that induce players to either overbid a standing bid or to abstain from bidding altogether. Many common forms of contest are elastic. In any equilibrium of an elastic contest, there is...
Persistent link: https://www.econbiz.de/10011282491
The Hotelling game of pure location allows interpretations in spatial competition, political theory, and professional forecasting. In this paper, the doubly symmetric mixed-strategy equilibrium for n ≥ 4 firms is characterized as the solution of a well-behaved boundary value problem. The...
Persistent link: https://www.econbiz.de/10011282501
This paper considers rent-seeking games in which a small percentage change in a player's bid has a large percentage impact on her odds of winning, i.e., on the ratio of her respective probabilities of winning and losing. An example is the Tullock contest with a high R. The analysis provides a...
Persistent link: https://www.econbiz.de/10011282520
The axiomatic route to the foundation of contest success functions (CSF) has proved to be both useful and prolific. The standard approach in the literature is based on the decision-theoretic notion that choice probabilities should be independent of irrelevant alternatives (Skaperdas, Economic...
Persistent link: https://www.econbiz.de/10011282529