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Multiple equilibria in Tullock contests

  • Chowdhury, Subhasish M.
  • Sheremeta, Roman M.

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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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 112 (2011)
Issue (Month): 2 (August)
Pages: 216-219

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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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  1. 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.
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  3. Sheremeta, Roman & Chowdhury, Subhasish, 2010. "A generalized Tullock contest," MPRA Paper 52102, University Library of Munich, Germany.
  4. Alexander Matros & Daniel Armanios, 2009. "Tullock’s contest with reimbursements," Public Choice, Springer, vol. 141(1), pages 49-63, October.
  5. Glazer, A. & Konrad, K.A., 1997. "Taxation of Rent-Seeking Activities," Papers 97-98-04, California Irvine - School of Social Sciences.
  6. Cohen, Chen & Sela, Aner, 2005. "Manipulations in contests," Economics Letters, Elsevier, vol. 86(1), pages 135-139, January.
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  10. 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.
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  12. Christian Riis & Derek J. Clark, 1997. "Contest success functions: an extension," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 11(1), pages 201-204.
  13. Szidarovszky, Ferenc & Okuguchi, Koji, 1997. "On the Existence and Uniqueness of Pure Nash Equilibrium in Rent-Seeking Games," Games and Economic Behavior, Elsevier, vol. 18(1), pages 135-140, January.
  14. Mark Gradstein, 1995. "Intensity Of Competition, Entry And Entry Deterrence In Rent Seeking Contests," Economics and Politics, Wiley Blackwell, vol. 7(1), pages 79-91, 03.
  15. Matros, Alexander, 2012. "Sad-Loser contests," Journal of Mathematical Economics, Elsevier, vol. 48(3), pages 155-162.
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  17. Takeshi Yamazaki, 2008. "On the Existence and Uniqueness of Pure-Strategy Nash Equilibrium in Asymmetric Rent-Seeking Contests," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 10(2), pages 317-327, 04.
  18. Paul, Chris & Wilhite, Al, 1990. "Efficient Renk-Seeking under Varying Cost Structures," Public Choice, Springer, vol. 64(3), pages 279-90, March.
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