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Continuity and Robustness of Bayesian Equilibria in Tullock Contests

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  • Einy, Ezra
  • Moreno, Diego
  • Sela, A.

Abstract

We study the continuity and robustness of the Bayesian equilibria of Tullock contests with incomplete information. We show that the Bayesian equilibrium correspondence is upper semicontinuous. We identify conditions under which the Bayesian equilibrium correspondence of Tullock contests with a unique equilibrium is also lower semicontinous. Furthermore, when the Bayesian equilibrium is unique, it is robust to small perturbations of the contest's attributes (the contest success function, and the players' information, value for the prize, and cost of effort).

Suggested Citation

  • Einy, Ezra & Moreno, Diego & Sela, A., 2019. "Continuity and Robustness of Bayesian Equilibria in Tullock Contests," UC3M Working papers. Economics 28116, Universidad Carlos III de Madrid. Departamento de Economía.
    • Handle: RePEc:cte:werepe:28116
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    Cited by:

    1. is not listed on IDEAS
    2. Aner Sela & Ishay Rabi & Chen Cohen, 2023. "An Algorithmic Analysis of Parallel Contests," Working Papers 2317, Ben-Gurion University of the Negev, Department of Economics.

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    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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