Asymmetric Contests with Conditional Investments

Ron Siegel

American Economic Review, 2010, vol. 100, issue 5, 2230-60

Abstract: This paper studies equilibrium behavior in a class of games that models asymmetric competitions with unconditional and conditional investments. Such competitions include lobbying settings, labor-market tournaments, and R& races, among others. I provide an algorithm that constructs the unique equilibrium in these games and apply it to study competitions in which a fraction of each competitor's investment is sunk and the rest is paid only by the winners. Complete-information all-pay auctions are a special case. (JEL D44, D72, D82)

Date: 2010
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Citations: View citations in EconPapers (79)

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