The Stability of Dynamic Contests with Asymmetric and Endogenous Prizes

Frederik Schmidt ()
Additional contact information
Frederik Schmidt: University of Mainz

Economics Bulletin, 2008, vol. 3, issue 4, pages 1-9

Abstract: The paper develops a simple theoretical framework for analyzing repeated contests. At each stage of the infinitely repeated game, a Tullock contest is played by two players. We consider local stability of the Nash equilibrium with respect to adjustment speed and the level of the prize. The model is extended to an asymmetric valuation of the prize and to the case with an endogenous prize, where the level of the prize is influenced by the investments of the players.

Keywords: Contests; Discrete Dynamical Systems; Endogenous prize (search for similar items in EconPapers)
JEL-codes: C7 D7 (search for similar items in EconPapers)
Date: 2008-01-14
View list of references

Downloads: (external link)
http://economicsbull ... me3/EB-07C70037A.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Access Statistics for this article

More articles in Economics Bulletin from Economics Bulletin
Address: Economics Bulletin, Department of Economics, 414 Calhoun Hall, Vanderbilt University, Nashville TN 37235, USA
Series data maintained by John Conley ().