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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
I consider a contest in which the quantity of output is rewarded and another in which the quality of output is rewarded. The output in the quality contest plays a dual role. It counts in the quality contest but it is also converted into quantity-equivalent output to obtain total output in the...
Persistent link: https://www.econbiz.de/10011864509
We consider a general class of imperfectly discriminating contests with privately informed players. We show that findings by Athey (2001) imply the existence of a Bayesian Nash equilibrium in monotone pure strategies.
Persistent link: https://www.econbiz.de/10008822063
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
Lobbyists choose what to lobby for. If they can precommit to certain policy proposals, their choice will have an influence on the behavior of opposing lobbyists. Hence lobbyists have an incentive to moderate their policy proposals in order to reduce the intensity of the lobbying contest. This...
Persistent link: https://www.econbiz.de/10010366546
In this paper we provide a political game where agents decide whether to become legislators or politicians. Legislators determine the political institutions constraining politicians' behavior and politicians compete for gaining the power to make decisions about the level of the public good. We...
Persistent link: https://www.econbiz.de/10010343846
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
This study examines contests in which prizes are affected linearly by aggregate effort. In particular, this research analyzes a contest among individuals as a benchmark to scrutinize the effects of prize externality and sharing-rule information on rent-dissipation rate and social welfare....
Persistent link: https://www.econbiz.de/10012863833
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
We present a general model of two players contest with two types of efforts. Contrary to the classical models of contest, where each player chooses a unique effort, and where the outcome depends on the efforts of all the players, contestants are allowed to reduce the effort of the opponent....
Persistent link: https://www.econbiz.de/10014061395