Multiple equilibria in Tullock contests
We find the sufficient conditions for the existence of multiple equilibria in Tullock-type contests, and show that asymmetric equilibria arise even under symmetric prize and cost structures. We then present existing contests where multiple equilibria exist under reasonably weak conditions.
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Volume (Year): 112 (2011)
Issue (Month): 2 (August)
Pages: 216-219
| Handle: | RePEc:eee:ecolet:v:112:y:2011:i:2:p:216-219 |
| Contact details of provider: | Web page: http://www.elsevier.com/locate/ecolet
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