Showing 1 - 9 of 9
We consider a best-of-three Tullock contest between two ex-ante identical players. An effort-maximizing designer commits to a vector of player-specific biases (advantages or disadvantages). In our benchmark model the designer chooses victory-dependent biases (i.e., the biases depend on the...
Persistent link: https://www.econbiz.de/10012918987
Multi-battle team contests are ubiquitous in real-life competitions. All temporal structures of multi-battle team contests yield the same total effort, as demonstrated by Fu, Lu, and Pan (2015, American Economic Review, 105(7): 2120-40)'s remarkable temporal-structure independence. Rather than...
Persistent link: https://www.econbiz.de/10013235954
Persistent link: https://www.econbiz.de/10013273331
We investigate the temporal structure that maximizes the winner's effort in large homogeneous contests, thus extending Hinnosaar (2019)'s analysis of total effort. We find that the winner's effort ranges from a lower bound of 0 to an upper bound of one third of the value of the prize, depending...
Persistent link: https://www.econbiz.de/10013293114
In sequential contests between ex-ante symmetric players, the outcome of early battles creates an asymmetry in players' incentives to expend resources, which undermines future expenditures. This dynamic force is absent in simultaneous contests, and consequently expenditures in sequential...
Persistent link: https://www.econbiz.de/10012830080
Persistent link: https://www.econbiz.de/10014545444
Persistent link: https://www.econbiz.de/10014550919
We study the sorting of contestants across Tullock contests, and the allocation of a prize budget across these contests. Our benchmark result is that total effort is maximized by a unique grand contest and contestant exclusions decrease total effort. We consider two extensions of our benchmark...
Persistent link: https://www.econbiz.de/10013296576
Persistent link: https://www.econbiz.de/10014339337