Publication: Tullock Contests Reward Information Advantages
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2018-06-28
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Abstract
In Tullock contests in which the common value of the prize is uncertain, information advantages are rewarded: if a player i has better information about the value than some other player j, then the payoff of i is greater or equal to the payoff of j, regardless of the information of the other players.
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Tullock Contests, Common Value, Information Advantage