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Overbidding and overspreading in rent-seeking experiments: Cost structure and prize allocation rules

Chowdhury, Subhasish; Sheremeta, Roman; Turocy, Theodore - Volkswirtschaftliche Fakultät, … - 2014

We study experimentally the effects of cost structure and prize allocation rules on the performance of rent-seeking contests. Most previous studies use a lottery prize rule and linear cost, and find both overbidding relative to the Nash equilibrium prediction and significant variation of...

Persistent link: https://www.econbiz.de/10011109043

An Experimental Investigation of Colonel Blotto Games

Chowdhury, Subhasish; Kovenock, Dan; Sheremeta, Roman - Volkswirtschaftliche Fakultät, … - 2011

This article examines behavior in the two-player, constant-sum Colonel Blotto game with asymmetric resources in which players maximize the expected number of battlefields won. The experimental results support the main qualitative predictions of the theory. In the auction treatment, where winning...

Persistent link: https://www.econbiz.de/10011258037

Nash bargaining solution and the split of profit in bilateral monopoly of lignite opencast mine and power plant. Part two – applications in strategic and tactical negotiations

Jurdziak, Leszek - Volkswirtschaftliche Fakultät, … - 2006

The application of Nash bargaining solution to profit division in negotiation between opencast lignite mine and power … of lignite price. The opportunism due to asymmetry of information and possession of dominant strategy of mine … integrated energy producer offering equal access to information for both sides. As it was shown in [4] such solution does not …

Persistent link: https://www.econbiz.de/10005260247

Cena węgla brunatnego jako wyznacznik podziału zysku w układach kopalń i elektrowni. Część I – Propozycje podziału

Jurdziak, Leszek - Volkswirtschaftliche Fakultät, … - 2006

Different structures of lignite mines and power stations, which have appeared on the Polish market as a result of its transformation and the privatisation, were discussed. The attention is focused on the fact that the practice is overtaking the theory because there is lack of models of...

Persistent link: https://www.econbiz.de/10005836050

Cena węgla brunatnego jako wyznacznik podziału zysku w układach kopalń i elektrowni. Część II – Formuły cen węgla brunatnego.

Jurdziak, Leszek - Volkswirtschaftliche Fakultät, … - 2006

For methods of the profit division in the bilateral monopoly of the mine and the power station sug-gested in the first part of this paper the formulae for lignite price and shares in the joint profit of the mine and the power station are calculated. The proposed profit division contain: the...

Persistent link: https://www.econbiz.de/10005836131

Lignite price and split of profit negotiation in bilateral monopoly of lignite opencast mine and power plant

Jurdziak, Leszek - Volkswirtschaftliche Fakultät, … - 2006

joint profits of BM should be chosen and in the second one, during bargaining, the split of profit ought to be decided … Nash bargaining solution has been proposed as a tool for equitable split of profit in BM due to its rational conditions …

Persistent link: https://www.econbiz.de/10005621826

Cena węgla brunatnego jako wyznacznik podziału zysku w układach kopalń i elektrowni. Część III – Obliczenia cen i zysków dla hipotetycznych danych.

Jurdziak, Leszek - Volkswirtschaftliche Fakultät, … - 2006

For the hypothetical deposit with parameters similar to KWB “Konin” S.A. conditions; lignite prices and proposed divisions are calculated and results were discussed under the angle of the fairness (equity) of the division and the possibility of their approval by both sides. A sensitivity...

Persistent link: https://www.econbiz.de/10005790457

Influence of structure and ownership of lignite opencast mine and power plant bilateral monopoly on its operation

Jurdziak, Leszek - Volkswirtschaftliche Fakultät, … - 2006

(sunk costs), different access to information (asymmetric information), cooperation or rivalry, possibility of opportunistic …

Persistent link: https://www.econbiz.de/10005621675

Strategically Equivalent Contests

Chowdhury, Subhasish; Sheremeta, Roman - Volkswirtschaftliche Fakultät, … - 2014

Using a two-player Tullock-type contest we show that intuitively and structurally different contests can be strategically equivalent. Strategically equivalent contests generate the same best response functions and, as a result, the same equilibrium efforts. However, strategically equivalent...

Persistent link: https://www.econbiz.de/10011107976

Multiple Equilibria in Tullock Contests

Chowdhury, Subhasish; Sheremeta, Roman - Volkswirtschaftliche Fakultät, … - 2011

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/10011109224

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