A generalized Tullock contest and the existence of multiple equilibria

Subhashish Chowdhury and Roman Sheremeta
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Subhashish Chowdhury: University of East Anglia

No 09-08, Working Paper series, University of East Anglia, Centre for Behavioural and Experimental Social Science (CBESS) from School of Economics, University of East Anglia, Norwich, UK.

Abstract: We construct a generalized Tullock contest under complete information where contingent upon winning or losing, the payoff of a player is a linear function of prizes, own effort, and the effort of the rival. This structure nests a number of existing contests in the literature. We characterize the equilibria and show that multiple equilibria might exist even under symmetric prize values. Finally, we introduce and characterize several new contests in which multiple equilibria may arise under very general conditions.

Keywords: rent-seeking; contest; spillover; multiple equilibria (search for similar items in EconPapers)
JEL-codes: C72 D72 D74 (search for similar items in EconPapers)
Date: 2009-12-01
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Citations: View citations in EconPapers (6)

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