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And the first runner-up is...: Sequential versus simultaneous winner revelation in multi-winner discriminated Tullock contests

Author

Listed:
  • Subhasish M. Chowdhury

    (Department of Economics. University of Bath)

  • Anwesha Mukherjee

    (School of Management. Technische Universitat M¨unchen)

  • Theodore L. Turocy

    (School of Economics and Centre for Behavioural and Experimental Social Science University of East Anglia, Norwich.)

Abstract

We characterise the strategic equivalence among k-winner contests using the simultaneous selection rule proposed by Berry (1993). We test the prediction of strategic equivalence using a series of laboratory experiments, contrasting 1-winner contests with 2-winner contests, varying in the latter whether the outcome is revealed sequentially or in a single stage. We find that in the long run, average bidding levels are similar across strategically-equivalent contests. However, adaptation in 2-winner contests is slower and less systematic, which is consistent with the property that Berry’s rule results in outcomes that are more random than in the 1-winner case.

Suggested Citation

  • Subhasish M. Chowdhury & Anwesha Mukherjee & Theodore L. Turocy, 2021. "And the first runner-up is...: Sequential versus simultaneous winner revelation in multi-winner discriminated Tullock contests," Working Paper series, University of East Anglia, Centre for Behavioural and Experimental Social Science (CBESS) 21-01, School of Economics, University of East Anglia, Norwich, UK..
    • Handle: RePEc:uea:wcbess:21-01
    as

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    References listed on IDEAS

    as
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    More about this item

    Keywords

    lottery contest; multi-winner contests; learning; experiment; strategic equivalence.;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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