We show that the optimal prize structure of symmetric n-player Tullock tournaments assigns the entire prize pool to the winner, provided that a symmetric pure strategy equilibrium exists. If such an equilibrium fails to exist under the winner-take-all structure, we construct the optimal prize structure which improves existence conditions by dampening efforts. If no such optimal equilibrium exis...

We model differences among agents in their ability to recognize temporal patterns of prices. Using the concept of DeBruijn sequences in two dynamic models of markets, we demonstrate the existence of equilibria in which prices fluctuate in a pattern that is independent of the fundamentals and that can be recognized only by the more competent agents. (JEL: C7, D4,

This paper studies the impact of equity considerations on the stability of international agreements between heterogeneous countries. We show that allowing countries to finance abatement projects in developing countries which, due to equity-reasons, have no binding emission targets can reduce the number of cooperating countries and thereby be welfare-decreasing. Equity-concerns in industrialized...

What procedure should a monopolist selling a single object adopt in order to maximize revenue? In settings where potential buyers may derive beneficial externalities from the sale of the object to any one of them, we show that a simple take-it-or-leave-it exclusively to one buyer generates greatest revenue among all “standard selling procedures” a class of selling procedures that include all ty...

This paper presents results from a controlled laboratory study of bargaining behavior and dispute rates under three types of arbitration procedures. Two of these-conventional and final-offer arbitration-are commonly used in practice, while an innovative procedure called "Combined Arbitration" (Brams and Merrill 1986) is not currently used. Combined Arbitration combines the rules of the two most...

Microcin C7 (McC), widely distributed in enterobacteria, is a promising antibiotic against antibiotic resistance [...].

Pyrazabole ( 1 ) is a readily accessible diboron compound that can be transformed into ditopic electrophiles. In (and derivatives), the B∙∙∙B separation ca. 3 Å, appropriate for one boron centre bonding to N and C7 of indoles indolines. This suitable enables double E-H (E = N/C) functionalisation Specifically, activation with HNTf 2 generates an electrophile transforms N-H indolines N/C7-dibory...

Article history: Accepted 19 December 2013 Available online xxxx JEL classification: L1 D4 C7

We explore the relationship between the choice of the strategy space and outcomes in Tullock contests. In particular, in a framework where one of the contest’s participants moves …rst, we show that there is an equilibrium where this individual wins the contest with probability one. We also show that not only the nature of the outcome changes (e.g., who wins the contest) with the choice of the s...