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Tullock and Hirshleifer: a meeting of the minds

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  • José Alcalde

    ()

  • Matthias Dahm

    ()

Abstract

We introduce the serial contest by building on the desirable properties of two prominent contest games. This family of contest games relies both on relative efforts (as Tullock's proposal) and on absolute effort differences (as difference-form contests). An additional desirable feature is that the serial contest is homogeneous of degree zero in contestant's efforts. The family is characterized by a parameter representing how sensitive the outcome is to contestants' efforts. It encompasses as polar cases the (fair) lottery and the (deterministic) all-pay auction. Equilibria have a close relationship to those of the (deterministic) all-pay auction and important properties of the latter hold for the serial contest, too.

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Bibliographic Info

Article provided by Springer in its journal Review of Economic Design.

Volume (Year): 11 (2007)
Issue (Month): 2 (September)
Pages: 101-124

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Handle: RePEc:spr:reecde:v:11:y:2007:i:2:p:101-124

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Related research

Keywords: Rent-seeking; (Non-)deterministic contest; Contest success function; All-pay auction; Rent dissipation; Exclusion principle; Preemption effect; Cap; Campaign contributions; C72; D72; D44;

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References

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  1. Dan Kovenock & Michael R. Baye & Casper G. de Vries, 1996. "The all-pay auction with complete information (*)," Economic Theory, Springer, vol. 8(2), pages 291-305.
  2. S. C. Littlechild & G. Owen, 1973. "A Simple Expression for the Shapley Value in a Special Case," Management Science, INFORMS, vol. 20(3), pages 370-372, November.
  3. Baye, M.R. & Kovenock, D. & De Vries, C.G., 1991. "Rigging The Lobbying Process: An Application Of The All- Pay Auction," Purdue University Economics Working Papers 1002, Purdue University, Department of Economics.
  4. Che, Yeon-Koo & Gale, Ian, 2000. "Difference-Form Contests and the Robustness of All-Pay Auctions," Games and Economic Behavior, Elsevier, vol. 30(1), pages 22-43, January.
  5. Konrad, Kai A., 2000. "Spatial contests," International Journal of Industrial Organization, Elsevier, vol. 18(6), pages 965-974, August.
  6. Moulin, Herve & Shenker, Scott, 1992. "Serial Cost Sharing," Econometrica, Econometric Society, vol. 60(5), pages 1009-37, September.
  7. Perez-Castrillo, J David & Verdier, Thierry, 1992. " A General Analysis of Rent-Seeking Games," Public Choice, Springer, vol. 73(3), pages 335-50, April.
  8. José Alcalde & Matthias Dahm, 2007. "All-Pay Auction Equilibria In Contests," Working Papers. Serie AD 2007-27, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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Citations

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Cited by:
  1. Luis Corchon & Matthias Dahm, 2007. "Foundations For Contest Success Functions," Economics Working Papers we070401, Universidad Carlos III, Departamento de Economía.
  2. Andrew Yates, 2011. "Winner-pay contests," Public Choice, Springer, vol. 147(1), pages 93-106, April.
  3. J. Atsu Amegashie, 2012. "A Nested Contest: Tullock Meets the All-Pay Auction," Working Papers 1211, University of Guelph, Department of Economics and Finance.
  4. Luis Corchón, 2007. "The theory of contests: a survey," Review of Economic Design, Springer, vol. 11(2), pages 69-100, September.
  5. Alcalde, José & Dahm, Matthias, 2011. "Competition for Procurement Shares," Working Papers 2072/169682, Universitat Rovira i Virgili, Department of Economics.
  6. Dahm, Matthias & Esteve, Patrícia,, 2013. "Affirmative Action through Extra Prizes," Working Papers 2072/222197, Universitat Rovira i Virgili, Department of Economics.
  7. TREICH Nicolas, 2009. "Risk-aversion and Prudence in Rent-seeking Games," LERNA Working Papers 09.05.281, LERNA, University of Toulouse.
  8. María Cubel & Santiago Sanchez-Pages, 2014. "Difference-form group contests," Working Papers 2014/6, Institut d'Economia de Barcelona (IEB).
  9. Amegashie, J. Atsu, 2012. "A nested contest: Tullock meets the All-Pay Auction," MPRA Paper 41654, University Library of Munich, Germany, revised 03 Sep 2012.
  10. Alcalde, José & Dahm, Matthias, 2010. "Rent seeking and rent dissipation: A neutrality result," Journal of Public Economics, Elsevier, vol. 94(1-2), pages 1-7, February.
  11. Alcalde, José & Dahm, Matthias, 2008. "All-pay auction equilibria in contests," Working Papers 2072/5368, Universitat Rovira i Virgili, Department of Economics.
  12. Pelosse, Yohan, 2011. "Inter and intra-group conflicts as a foundation for contest success functions," MPRA Paper 31468, University Library of Munich, Germany.
  13. Pelosse, Yohan, 2009. "Mediated Contests and Strategic Foundations for Contest Success Functions," MPRA Paper 18664, University Library of Munich, Germany.

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