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A Comment on “David and Goliath: An Analysis on Asymmetric Mixed-Strategy Games and Experimental Evidence” Author info | Abstract | Publisher info | Download info | Related research | Statistics Dechenaux, Emmanuel
Kovenock, Dan
Lugovskyy, Volodymry
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In this note, we characterize the full set of Equilibria of the 2-firm patent race analyzed by Amaldoss and Jain (Management Science, 48(8), August 2002, pp. 972-991). Contrary to Amaldoss and Jain’s (2002) claim, we show that the equilibrium is not always unique and that the set of Equilibria is non-robust to changes in the (discrete) set of available strategies. In some Equilibria, the qualitative results are the reverse of those in the only equilibrium Amaldoss and Jain identify. Our findings have important implications for the analysis of the data from Amaldoss and Jain’s experiments, as well as other experiments appearing in the literature.
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Paper provided by Purdue University, Department of Economics in its series Purdue University Economics Working Papers with number
1162.
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Length: 20 pages
Date of creation: 2003Date of revision:
Handle: RePEc:pur:prukra:1162Contact details of provider: Postal: Krannert Building, West Lafayette, IN 47907 Web page: http://www.krannert.purdue.edu/programs/phd More information through EDIRC
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Keywords: All-Pay Auction ; Contests ; Experimental Economics ; Competitive Strategy ; R&D ; References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.:
Baye, M.R. & Kovenock, D., 1993.
"The Solution to the Tullock Rent-Seeking Game When R > 2: Mixed Strategy Equilibria and Mean Dissipation Rates ,"
Papers
9368, Tilburg - Center for Economic Research.
Other versions:
Baye, M.R. & Kovenock, D. & De Vries, C.G., 1993.
"The Solution to the Tullock Rent-Seeking Game when R > 2: Mixed Strategy Equilibria and Mean Dissipation Rates ,"
Papers
10-93-9, Pennsylvania State - Department of Economics.
Baye, M.R. & Kovenock, D. & De Vries, C.G., 1993.
"The Solution to the Tullock Rent-Seeking Game when r>2: Mixed-Strategy Equilibria and Mean Dissipation Rates ,"
Purdue University Economics Working Papers
1039, Purdue University, Department of Economics.
Dechenaux, Emmanuel & Kovenock, Dan & Lugovskyy, Volodymyr, 2006.
"Caps on bidding in all-pay auctions: Comments on the experiments of A. Rapoport and W. Amaldoss ,"
Journal of Economic Behavior & Organization ,
Elsevier, vol. 61(2), pages 276-283, October.
[Downloadable!] (restricted)
Other versions: Che, Yeon-Koo & Gale, Ian L, 1998.
"Caps on Political Lobbying ,"
American Economic Review ,
American Economic Association, vol. 88(3), pages 643-51, June.
[Downloadable!] (restricted)
Other versions: Rapoport, Amnon & Amaldoss, Wilfred, 2000.
"Mixed strategies and iterative elimination of strongly dominated strategies: an experimental investigation of states of knowledge ,"
Journal of Economic Behavior & Organization ,
Elsevier, vol. 42(4), pages 483-521, August.
[Downloadable!] (restricted)
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.
[Downloadable!] (restricted)
Che, Yeon-Koo & Gale, Ian, 1996.
"Expected revenue of all-pay auctions and first-price sealed-bid auctions with budget constraints ,"
Economics Letters ,
Elsevier, vol. 50(3), pages 373-379, March.
[Downloadable!] (restricted)
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.
Other versions:
Baye, Michael R. & Kovenock, Dan & Vries, Casper de, 1995.
"The All-pay Auction with Complete Information ,"
CESifo Working Paper Series
CESifo Working Paper No. , CESifo Group Munich.
Kovenock, D. & de Vries, C.G., 1995.
"The All-Pay Auction with Complete Information ,"
UFAE and IAE Working Papers
311.95, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
Baye, M.R. & Kovenock, D. & De Vries, C., 1992.
"The All-Pay Auction with Complete Information ,"
Papers
8-92-1, Pennsylvania State - Department of Economics.
Baye, M.R. & Kovenock, D. & De Vries, C.G., 1991.
"The All-Pay Auction With Complete Information ,"
Purdue University Economics Working Papers
1007, Purdue University, Department of Economics.
Baye, M.R. & Kovenock, D. & De Varies, C.G., 1990.
"The All-Pay Auction With Complete Information ,"
Papers
9051, Tilburg - Center for Economic Research.
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Dechenaux, Emmanuel & Kovenock, Dan & Lugovskyy, Volodymry, 2003.
"Caps on Bidding in All-Pay Auctions: Comments on the Experiments of A. Rapoport and W. Amaldoss ,"
Purdue University Economics Working Papers
1161, Purdue University, Department of Economics.
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