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We characterize the equilibrium set of the n-player Hirshleifer contest with homogeneous valuations. A symmetric equilibrium always exists. It necessarily corresponds to multilateral peace for sufficient noise and uses finite-support randomized strategies otherwise. Asymmetric equilibria are...
Persistent link: https://www.econbiz.de/10012267940
While the game-theoretic analysis of conflict is often based upon the assumption of multiplicative noise, additive noise such as assumed by Hirshleifer (1989) may be equally plausible depending on the application. In this paper, we examine the equilibrium set of the n-player difference-form...
Persistent link: https://www.econbiz.de/10013440075
While the game-theoretic analysis of conflict is often based on the assumption of multiplicative noise, additive noise such as considered by Hirshleifer (1989) may be equally plausible depending on the application. In this paper, we examine the equilibrium set of the n-player difference-form...
Persistent link: https://www.econbiz.de/10014380413
This paper investigates the effects of different prize structures on the effort choices of participants in two-stage elimination contests. A format with a single prize is shown to maximize total effort over both stages, but induces low effort in stage 1 and high effort in stage 2. By contrast, a...
Persistent link: https://www.econbiz.de/10010340562
This paper studies a large class of imperfectly discriminating contests, referred to as elastic contests, that induce players to either overbid a standing bid or to abstain from bidding altogether. Many common forms of contest are elastic. In any equilibrium of an elastic contest, there is...
Persistent link: https://www.econbiz.de/10010360312
I consider a model in which an asset owner must decide how much to invest in his asset mindful of the fact that an encroacher's valuation of the asset is increasing in the asset owner's investment. Due to incomplete property rights, the encroacher and asset owner engage in a contest over the...
Persistent link: https://www.econbiz.de/10003861788
We introduce learning by doing in a dynamic contest. Contestants compete in an early round and can use the experience gained to reduce effort cost in a subsequent contest. A contest designer can decide how much of the prize mass to distribute in the early contest and how much to leave for the...
Persistent link: https://www.econbiz.de/10003973575
This paper considers incentives for information acquisition ahead of conflicts. First, we characterize the (unique) equilibrium of the all-pay auction between two players with one-sided asymmetric information where one player has private information about his valuation. Then, we use ou rresults...
Persistent link: https://www.econbiz.de/10003950481
Contests between groups are plagued by intra-group externalities (freeriding). Yet, costless incentive schemes that entirely avoid free-riding within a group might not be desirable, neither individually nor socially. In contests among two groups, a relatively weak (i.e., small or unproductive)...
Persistent link: https://www.econbiz.de/10008653415
We study the role of inter-group differences in the emergence of conflict. In our setting, two groups compete for the right to allocate societys resources, and we allow for costly intergroup mobility. The winning group offers an allocation, that the opposition can either accept, or reject and...
Persistent link: https://www.econbiz.de/10009489032