Tullock contests with asymmetric information

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dc.contributor.author Einy, Ezra
dc.contributor.author Haimanko, Ori
dc.contributor.author Moreno, Diego
dc.contributor.author Sela, A.
dc.contributor.author Shitovitz, Benyamin
dc.contributor.editor Universidad Carlos III de Madrid. Departamento de Economía
dc.date.accessioned 2013-07-15T15:43:22Z
dc.date.available 2013-07-15T15:43:22Z
dc.date.issued 2013-07
dc.identifier.issn 2340-5031
dc.identifier.uri http://hdl.handle.net/10016/17295
dc.description.abstract We show that under standard assumptions a Tullock contest with asymmetric information has a pure strategy Bayesian equilibrium. Moreover, two-player common-value Tullock contests in which one of the players has an information advantage have a unique equilibrium. In equilibrium both players exert the same expected effort, and although the player with information advantage wins the prize with probability less than one-half, his payoff is greater or equal to that of his opponent. In common-value Tullock contests with more players any information advantage is rewarded, but the other properties of two players contests do not hold
dc.description.sponsorship Moreno gratefully acknowledges financial support from the Ministerio de Ciencia e Innovación, grant ECO2011-­29762
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries UC3M Working papers. Economics
dc.relation.ispartofseries 13-14
dc.rights Atribución-NoComercial-SinDerivadas 3.0 España
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.other Tullock contests
dc.subject.other Common-values
dc.subject.other All pay auctions
dc.subject.other Asymmetric information
dc.title Tullock contests with asymmetric information
dc.type workingPaper
dc.subject.eciencia Economía
dc.rights.accessRights openAccess
dc.relation.projectID Gobierno de España. ECO2011-29762
dc.type.version submitedVersion
dc.identifier.repec we1314
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