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We analyze a group contest in which n groups compete to win a group-specific public good prize. Group sizes can be different and any individual player may value the prize differently within and across groups. Players expend costly efforts simultaneously and independently. Only the highest effort...
Persistent link: https://www.econbiz.de/10008863004
We find the sufficient conditions for the existence of multiple equilibria in Tullock-type contests and show that asymmetric equilibria may arise even under symmetric prize and cost structures. We also identify contests in the literature where multiple equilibria exist under reasonably weak...
Persistent link: https://www.econbiz.de/10008642290