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We find the sufficient conditions for the existence of multiple equilibria in Tullock-type contests, and show that asymmetric equilibria arise even under symmetric prize and cost structures. We then present existing contests where multiple equilibria exist under reasonably weak conditions.
Persistent link: https://www.econbiz.de/10009146106
We consider a multi-winner nested elimination contest in which losers are sequentially eliminated to attain the set of winners. This is a variant of a widely used mechanism introduced by Clark and Riis (1996) that allows one to select the winners sequentially. We show that the current mechanism...
Persistent link: https://www.econbiz.de/10011116203
We show in a public goods experiment on three continents that conditional cooperation is a universal behavioral regularity. Yet, the number of conditional cooperators and the extent of conditional cooperation are much higher in the United States than anywhere else.
Persistent link: https://www.econbiz.de/10005307674
The effects of stake size on cooperation and punishment are investigated using a public goods experiment. We find that an increase in stake size does neither significantly affect cooperation nor the level of punishment.
Persistent link: https://www.econbiz.de/10005355498