Equilibrium existence in contests with bid caps

被引：2
|
作者：
Olszewski, Wojciech [1 ]
Siegel, Ron [2 ]
机构：
[1] Northwestern Univ, Dept Econ, Evanston, IL 60208 USA
[2] Penn State Univ, Dept Econ, University Pk, PA 16802 USA
来源：
JOURNAL OF MATHEMATICAL ECONOMICS | 2023年 / 104卷
关键词：
Contests; Equilibrium existence; Bid caps;
D O I：
10.1016/j.jmateco.2022.102804
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We prove equilibrium existence in distributional strategies for a general class of multiprize contests, including contests with bid caps. Contests with bid caps violate the assumptions of Reny's (1999) equilibrium existence results as well as those of many other existence results. The equilibrium existence proof we provide for contests with bid caps refers to a special property of such contests, whereas the proof is much more straightforward for contests without a bid cap.(c) 2022 Elsevier B.V. All rights reserved.
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页数：6
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