Strategically equivalent contests
Abstract
Using a two-player Tullock-type contest, we show that intuitively and structurally different contests can be strategically equivalent. Strategically equivalent contests generate the same best response functions and, as a result, the same equilibrium efforts. However, strategically equivalent contests may yield different equilibrium payoffs. We propose a simple two-step procedure to identify strategically equivalent contests. Using this...
Paper Details
Title
Strategically equivalent contests
Published Date
May 17, 2014
Journal
Volume
78
Issue
4
Pages
587 - 601
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