Mixed equilibria in Tullock contests

B-Tier
Journal: Economic Theory
Year: 2015
Volume: 60
Issue: 1
Pages: 59-71

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Any symmetric mixed-strategy equilibrium in a Tullock contest with intermediate values of the decisiveness parameter (“ $$2>R>\infty $$ 2 > R > ∞ ”) has countably infinitely many mass points. All probability weight is concentrated on those mass points, which have the zero bid as their sole point of accumulation. With contestants randomizing over a non-convex set, there is a cost of being “halfhearted,” which is absent from both the lottery contest and the all-pay auction. Numerical bid distributions are generally negatively skewed and exhibit, for some parameter values, a higher probability of ex-post overdissipation than the all-pay auction. Copyright The Author(s) 2015

Technical Details

RePEc Handle
repec:spr:joecth:v:60:y:2015:i:1:p:59-71
Journal Field
Theory
Author Count
1
Added to Database
2026-01-25