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A generalized Tullock contest

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  • Subhasish Chowdhury

    ()

  • Roman Sheremeta

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 and can be used to analyze new types of contests. We characterize the unique symmetric equilibrium and show that small parameter modifications may lead to substantially different types of contests and hence different equilibrium effort levels.

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File URL: http://hdl.handle.net/10.1007/s11127-010-9636-3
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Bibliographic Info

Article provided by Springer in its journal Public Choice.

Volume (Year): 147 (2011)
Issue (Month): 3 (June)
Pages: 413-420

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Handle: RePEc:kap:pubcho:v:147:y:2011:i:3:p:413-420

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Web page: http://www.springerlink.com/link.asp?id=100332

Related research

Keywords: Rent-seeking; Contest; Spillover; C72; D72; D74;

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References

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  1. Roman M. Sheremeta, 2009. "Experimental Comparison of Multi-Stage and One-Stage Contests," Working Papers 09-04, Chapman University, Economic Science Institute.
  2. Chung, Tai-Yeong, 1996. " Rent-Seeking Contest When the Prize Increases with Aggregate Efforts," Public Choice, Springer, vol. 87(1-2), pages 55-66, April.
  3. Baye, M.R. & Kovenock D. & De Vries, C.G., 2000. "Comparative Analysis of Litigation Systems: an Auction-Theoretic Approach," Purdue University Economics Working Papers 1137, Purdue University, Department of Economics.
  4. Kaplan, Todd, et al, 2002. "All-Pay Auctions with Variable Rewards," Journal of Industrial Economics, Wiley Blackwell, vol. 50(4), pages 417-30, December.
  5. Baye, M. & Kovenock, D. & Vries, C. de, 1990. "The All-Pay Auction with Complete Information," Discussion Paper 1990-51, Tilburg University, Center for Economic Research.
  6. Glazer, A. & Konrad, K.A., 1997. "Taxation of Rent-Seeking Activities," Papers 97-98-04, California Irvine - School of Social Sciences.
  7. Roman M. Sheremeta, 2011. "Contest Design: An Experimental Investigation," Economic Inquiry, Western Economic Association International, vol. 49(2), pages 573-590, 04.
  8. Kamien, Morton I & Muller, Eitan & Zang, Israel, 1992. "Research Joint Ventures and R&D Cartels," American Economic Review, American Economic Association, vol. 82(5), pages 1293-306, December.
  9. Michael R. Baye & Dan Kovenock & Casper G. de Vries, 2009. "Contests with Rank-Order Spillovers," Tinbergen Institute Discussion Papers 09-066/2, Tinbergen Institute.
  10. Christian Riis & Derek J. Clark, 1997. "Contest success functions: an extension," Economic Theory, Springer, vol. 11(1), pages 201-204.
  11. Skaperdas, Stergios, 1996. "Contest Success Functions," Economic Theory, Springer, vol. 7(2), pages 283-90, February.
  12. Amegashie, J Atsu, 1999. " The Number of Rent-Seekers and Aggregate Rent-Seeking Expenditures: An Unpleasant Result," Public Choice, Springer, vol. 99(1-2), pages 57-62, April.
  13. Herschel I. Grossman & Juan Mendoza, 2001. "Butter and guns: Complementarity between economic and military competition," Economics of Governance, Springer, vol. 2(1), pages 25-33, 03.
  14. Farmer, Amy & Pecorino, Paul, 1999. " Legal Expenditure as a Rent-Seeking Game," Public Choice, Springer, vol. 100(3-4), pages 271-88, September.
  15. Skaperdas, Stergios & Gan, Li, 1995. "Risk Aversion in Contests," Economic Journal, Royal Economic Society, vol. 105(431), pages 951-62, July.
  16. Alexander Matros & Daniel Armanios, 2007. "Tullock's Contest with Reimbursements," Working Papers 328, University of Pittsburgh, Department of Economics, revised Sep 2008.
  17. Garfinkel, M.R. & Skaperdas, S., 2000. "Conflict without Misperceptions or Incomplete Information: how the Future Matters," Papers 99-00-11, California Irvine - School of Social Sciences.
  18. Cohen, Chen & Sela, Aner, 2005. "Manipulations in contests," Economics Letters, Elsevier, vol. 86(1), pages 135-139, January.
  19. Baye, Michael R. & Hoppe, Heidrun C., 2003. "The strategic equivalence of rent-seeking, innovation, and patent-race games," Games and Economic Behavior, Elsevier, vol. 44(2), pages 217-226, August.
  20. Lee, Sanghack & Hyeong Kang, J., 1998. "Collective contests with externalities," European Journal of Political Economy, Elsevier, vol. 14(4), pages 727-738, November.
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Citations

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Cited by:
  1. Subhasish M. Chowdhury & Roman M. Sheremeta, 2010. "The Equivalence of Contests," Working Papers 10-07, Chapman University, Economic Science Institute.
  2. Subhasish M. Chowdhury & Roman M. Sheremeta, 2010. "Multiple Equilibria in Tullock Contests," University of East Anglia Applied and Financial Economics Working Paper Series 014, School of Economics, University of East Anglia, Norwich, UK..
  3. Christian Rusche, 2011. "Does Delegation Help to Prevent Spiteful Behavior?," Ruhr Economic Papers 0270, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
  4. Gregor, Martin, 2012. "Contest for power in organizations," Economics Letters, Elsevier, vol. 114(3), pages 280-283.
  5. Gill, David & Stone, Rebecca, 2009. "Fairness and desert in tournaments," Discussion Paper Series In Economics And Econometrics 0903, Economics Division, School of Social Sciences, University of Southampton.

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