EXISTENCE AND UNIQUENESS OF EQUILIBRIUM IN ASYMMETRIC CONTESTS WITH ENDOGENOUS PRIZES
Shumei Hirai (hirai-shumei@jcom.home.ne.jp) and
Ferenc Szidarovszky (szidarka@gmail.com)
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Shumei Hirai: Department of Economics, Daito Bunka University, 560 Iwadono, Higashimatsuyama-shi, Saitama 355-8501, Japan
Ferenc Szidarovszky: Department of Applied Mathematics, University of Pécs, Ifjusag u.6, H-7624, Pécs, Hungary
International Game Theory Review (IGTR), 2013, vol. 15, issue 01, 1-9
Abstract:
This paper considers contests in which the efforts of the players determine the value of the prize. Players may have different valuations of the prize and different abilities to convert expenditures to productive efforts. In addition, players may face different financial constraints. This paper presents a proof for the existence and uniqueness of a pure Nash equilibrium in asymmetric contests with endogenous prizes.
Keywords: Contests; endogenous prize; existence and uniqueness; Subject Classification: D72; Subject Classification: C72; Subject Classification: L13 (search for similar items in EconPapers)
JEL-codes: B4 C0 C6 C7 D5 D7 M2 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (16)
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DOI: 10.1142/S0219198913500059
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