Lotteries vs. All-Pay Auctions in Fair and Biased Contests
نویسندگان
چکیده
منابع مشابه
Fair and Biased Contests
Lotteries vs. All-Pay Auctions in Fair and Biased Contests The form of contests for a single fixed prize can be determined by a designer who maximizes the contestants’ efforts. This paper establishes that, under common knowledge of the two asymmetric contestants’ prize valuations, a fair Tullock-type endogenously determined lottery is always superior to an all-pay-auction; it yields larger expe...
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ژورنال
عنوان ژورنال: Economics & Politics
سال: 2013
ISSN: 0954-1985
DOI: 10.1111/ecpo.12003