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Persistent link: https://www.econbiz.de/10005015350
We consider an extension of Tullock's (1980) N-player contest under which prize valuations may vary across players. We show that the pure-strategy equilibrium of this contest is unique. We also establish the following results: rent dissipation increases, individual winning probabilities...
Persistent link: https://www.econbiz.de/10005542637