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Outcomes and Strategy Choices in Tullock Contests

Author

Listed:
  • Flavio Menezes

    (Australian National University)

  • John Quiggin

    (Department of Economics, University of Queensland)

Abstract

We explore the relationship between the choice of the strategy space and outcomes in Tullock contests. In particular, in a framework where one of the contest's participants moves first, we show that there is an equilibrium where this individual wins the contest with probability one. We also show that not only the nature of the outcome changes (e.g., who wins the contest) with the choice of the strategy space but also that a contest organiser might have preferences over this space. We argue that ultimately the analyst does not have complete freedom to choose the strategy space. Instead, he or she should consider the strategies that are permitted by the organisers of a formal contest, whose interests might lie in maximising returns. That is, the analyst's choice of the strategy space is not neutral.

Suggested Citation

  • Flavio Menezes & John Quiggin, 2005. "Outcomes and Strategy Choices in Tullock Contests," Risk & Uncertainty Working Papers WP6R05, Risk and Sustainable Management Group, University of Queensland.
    • Handle: RePEc:rsm:riskun:r05_6
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    File URL: http://www.uq.edu.au/rsmg/WP/WPR05_6.pdf
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    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory

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