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- W2770776033 abstract "This paper studies contests in which three or more players compete for two nonidentical prizes. The players have distinct constant marginal costs of performance or bid, which are commonly known. We show that the contests have a generically unique Nash equilibrium, and it is in mixed strategies. Moreover, we characterize the equilibrium payoffs and strategies in closed form. We also study how the equilibrium payoffs and strategies vary with the prizes. As an application, we numerically compute the optimal allocation of prizes that maximizes the total expected bid of asymmetric players." @default.
- W2770776033 created "2017-12-04" @default.
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- W2770776033 date "2018-01-01" @default.
- W2770776033 modified "2023-09-29" @default.
- W2770776033 title "Equilibrium analysis of the all-pay contest with two nonidentical prizes: Complete results" @default.
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- W2770776033 doi "https://doi.org/10.1016/j.jmateco.2017.10.003" @default.
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