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Clustering and lack of sufficient diversification in research strategies has been identified as an important problem … for delegated research as it takes place in design contests by Erat and Krishnan (2012). We show that this problem can be … solved by local competition (such as bribery, lobbying or rent seeking) among players who apply the same search strategies or …
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Altruists and envious people who meet in contests are symbionts. They do better than a population of narrowly rational individuals. If there are only altruists and envious individuals, a particular mixture of altruists and envious individuals is evolutionarily stable.
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firms compete in all-pay auctions with complete information, silent shareholdings introduce asymmetric externalities into the all-pay auction framework. If the strongest firm owns a large share in the second strongest firm, this may make the strongest firm abstain from bidding. As a consequence,...
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