All-pay auction equilibria in contests
| Contribuinte(s) |
Universitat Rovira i Virgili. Departament d'Economia |
|---|---|
| Data(s) |
2008
|
| Resumo |
We analyze (non-deterministic) contests with anonymous contest success functions. There is no restriction on the number of contestants or on their valuations for the prize. We provide intuitive and easily verifiable conditions for the existence of an equilibrium with properties similar to the one of the (deterministic) all-pay auction. Since these conditions are fulfilled for a wide array of situations, the predictions of this equilibrium are very robust to the specific details of the contest. An application of this result contributes to fill a gap in the analysis of the popular Tullock rent- seeking game because it characterizes properties of an equilibrium for increasing returns to scale larger than two, for any number of contestants and in contests with or without a common value. Keywords: (non-) deterministic contest, all-pay auction, contest success functions. JEL Classification Numbers: C72 (Noncooperative Games), D72 (Economic Models of Political Processes: Rent-Seeking, Elections), D44 (Auctions). |
| Formato |
40 462582 bytes application/pdf |
| Identificador | |
| Idioma(s) |
eng |
| Relação |
Documents de treball del Departament d'Economia;2008-04 |
| Direitos |
Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/) |
| Palavras-Chave | #Subhastes #Política #Models economètrics #Renda (Teoria econòmica) #Eleccions #Jocs, Teoria de #338 - Situació econòmica. Política econòmica. Gestió, control i planificació de l'economia. Producció. Serveis. Turisme. Preus |
| Tipo |
info:eu-repo/semantics/workingPaper |
