Continuity and Robustness of Bayesian Equilibria in Tullock Contests

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dc.contributor.author Einy, Ezra
dc.contributor.author Moreno Ruiz, Diego
dc.contributor.author Sela, A.
dc.contributor.editor Universidad Carlos III de Madrid. Departamento de Economía
dc.date.accessioned 2019-02-22T14:40:07Z
dc.date.available 2019-02-22T14:40:07Z
dc.date.issued 2019-02
dc.identifier.issn 2340-5031
dc.identifier.uri http://hdl.handle.net/10016/28116
dc.description.abstract We study the continuity and robustness of the Bayesian equilibria of Tullock contests with incomplete information. We show that the Bayesian equilibrium correspondence is upper semicontinuous. We identify conditions under which the Bayesian equilibrium correspondence of Tullock contests with a unique equilibrium is also lower semicontinous. Furthermore, when the Bayesian equilibrium is unique, it is robust to small perturbations of the contest's attributes (the contest success function, and the players' information, value for the prize, and cost of effort).
dc.description.sponsorship Acknowledgments of financial support: Ministerio Economía Spain, grants ECO2014-55953-P and MDM2014-0431, and Comunidad de Madrid, grant S2015/HUM-3444 (Moreno).
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries Working paper. Economics
dc.relation.ispartofseries 19-04
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 Incomplete Information
dc.subject.other Bayesian Correspondence
dc.subject.other Robustness of Equilibria
dc.title Continuity and Robustness of Bayesian Equilibria in Tullock Contests
dc.type workingPaper
dc.subject.jel C72
dc.subject.jel D44
dc.subject.jel D82
dc.rights.accessRights openAccess
dc.relation.projectID Gobierno de España. ECO2014-55953-P
dc.relation.projectID Gobierno de España. MDM2014-0431
dc.relation.projectID Comunidad de Madrid. S2015/HUM-3444
dc.type.version draft
dc.identifier.uxxi DT/0000001662
dc.contributor.funder Consejería de Educación, Juventud y Deporte, Comunidad de Madrid
dc.contributor.funder Ministerio de Economía y Competitividad (España)
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