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Perfectly discriminating contests (or all pay auction) are widely used as a model of situations where individuals … devote resources to win some prize. In reality such contests are often preceded by investments of the contestants into their …
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This paper introduces a class of contest models in which each player decides when to stop a privately observed Brownian motion with drift and incurs costs depending on his stopping time. The player who stops his process at the highest value wins a prize. We prove existence and uniqueness of a...
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uniform distribution. This result introduces a new perspective on lobbying contests and procurement contests. …
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