Showing 1 - 10 of 35
This paper considers the extent to which expenditure by contestants inimperfectly discriminating rent-seeking contests …,we show that this effect disappears in the Nash equilibria of large contests.Similarly, strategic effects are diminished if …
Persistent link: https://www.econbiz.de/10005868938
Noncooperative games in which each player’s payo¤ function depends on anadditively separable function of every player’s choice variable may be transformedinto an aggregative game, which may be analysed using the conceptof ‘share functions’. The resulting approach avoids the...
Persistent link: https://www.econbiz.de/10005868958
We investigate the Nash equilibria of asymmetric, winner-take-all, imperfectlydiscriminating contests, focussing on … isequal to the value of the prize in large contests even if contestants di¤er.Partial dissipation can occur only when in …
Persistent link: https://www.econbiz.de/10005868959
The rent-seeking model of Tullock (1980) has stimulated a large literature on rent-seekingcontests, of which Hillman (1989) and Nitzan (1994) provide useful surveys. AlthoughTullock's 'winner take all' model has been adapted and extended in numerous ways, thereremain fundamental modeling issues,...
Persistent link: https://www.econbiz.de/10005869062
We present a new approach to estimating health gains from treatments by asking respondentsto directly compare the ‘before’ and ‘after’ treatment health states in the time trade-off (TTO)framework. We found that responses to these direct comparisons were much more likely tocapture a...
Persistent link: https://www.econbiz.de/10005869318
We suggest an alternative way of analyzing the canonical Bergstrom-Blume-Varian model of non-cooperative voluntary contributions to a public goodthat avoids the proliferation of dimensions as the number of players is in-creased. We exploit this approach to analyze models in which the...
Persistent link: https://www.econbiz.de/10005868656
We examine a Stackelberg game where a financially constrainedleader faces competition from a ‘deep pocket’ follower. We analyzethe consequences of this trade-off between a financial and a strategicadvantage for both the design of financial contracts and market structure.We derive conditions...
Persistent link: https://www.econbiz.de/10005868761
We study aggregative games in which players’ strategy sets areconvex intervals of the real line and (not necessarily differentiable)payoffs depend only on a player’s own strategy and the sum of allplayers’ strategies. We give sufficient conditions on each player’s payofffunction to...
Persistent link: https://www.econbiz.de/10005868768
The paper compares two models of evolution in symmetric twoplayergames with incomplete information. One model postulates thatthe type of a player is fixed, and evolution works within types. Inthe other model type-contingent strategies evolve. In the case of twotypes and two strategies it is...
Persistent link: https://www.econbiz.de/10005868794
The paper shows that there is a close connection between (constant)consistent conjectures in a given game and evolutionary stabilityof conjectures. Evolutionarily stable conjectures are consistent andconsistent conjectures are the only interior candidates for evolutionarystability...
Persistent link: https://www.econbiz.de/10005868802