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Winner-take-all and proportional-prize contests : theory and experimental results
Cason, Timothy N.; Masters, William Alan; Sheremeta, … - In: Journal of economic behavior & organization : JEBO 175 (2020), pp. 314-327
Persistent link: https://www.econbiz.de/10012289868
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Winner-Take-All and Proportional-Prize Contests : Theory and Experimental Results
Cason, Timothy N. - 2018
. Lotteries and proportional-prize contests have the same Nash equilibrium, but empirically, lotteries induce higher efforts and …This study provides a unified framework to compare three canonical types of contests: winner-take-all contests won by … the best performer, winner-take-all lotteries where probability of success is proportional to performance, and …
Persistent link: https://www.econbiz.de/10012940281
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Stochastic Asymmetric Blotto Games: Theory and Experimental Evidence
Duffy, John; Matros, Alexander - Department of Economics, University of Pittsburgh - 2013
We study a 2-player Blotto game where the n items have asymmetric values. The winner of each item is determined stochastically using a lottery mechanism. We analyze two payoff objectives: (i) players maximize their total expected payoffs and (ii) players maximize their probability of winning a...
Persistent link: https://www.econbiz.de/10010878526
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Sorting in iterated incumbency contests
Häfner, Samuel; Nöldeke, Georg - 2016
This paper analyzes iterated incumbency contests with heterogeneous valuations in a large population setting …
Persistent link: https://www.econbiz.de/10011569559
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Tullock brings perseverance and suspense to tug-of-war
Karagözoğlu, Emin; Sağlam, Hüseyin Çağri; Turan, … - 2020
We model the dynamic contest between two players as a game of tug-of-war with a Tullock contest success function (CSF). We show that (pure strategy) Markov perfect equilibrium of this game exists, and it is unique. In this equilibrium - in stark contrast to a model of tug-of-war with an all pay...
Persistent link: https://www.econbiz.de/10012165990
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Equilibrium in the symmetric Hirshleifer contest : uniqueness and characterization
Ewerhart, Christian; Sun, Guang-Zhen - 2018
The symmetric two-player Hirshleifer (1989) contest is shown to admit a unique equilibrium. The support of the equilibrium strategy is finite and includes, in particular, the zero expenditure level. We also establish a lower bound for the cardinality of the support and an upper bound for the...
Persistent link: https://www.econbiz.de/10011824432
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Behavior in Contests
Sheremeta, Roman - Volkswirtschaftliche Fakultät, … - 2014
Standard theoretical prediction is that rational economic agents participating in rent-seeking contests should engage …
Persistent link: https://www.econbiz.de/10011109372
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Behavioral Dimensions of Contests
Sheremeta, Roman - Volkswirtschaftliche Fakultät, … - 2014
The standard theoretical description of rent-seeking contests is that of rational individuals or groups engaging in …
Persistent link: https://www.econbiz.de/10011111074
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Optimal prizes in dynamic elimination contests : theory and experimental evidence
Stracke, Rudi; Höchtl, Wolfgang; Kerschbamer, Rudolf; … - 2014
-stage) elimination contests. Theoretical results show that, for risk-neutral participants, a structure with a single prize for the winner …
Persistent link: https://www.econbiz.de/10010260060
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The Power of Money: Wealth Effects in Contests.
Schroyen, Fred; Treich, Nicolas - Institutt for samfunnsøkonomi, Norges Handelshøyskole … - 2013
Two wealth effects typically arise in any contest: i) wealth decreases the marginal cost of effort, but also ii) decreases the marginal benefit of winning the contest. In this paper, we introduce three types of strategic contest models depending on whether the first, second, or both wealth...
Persistent link: https://www.econbiz.de/10010818853