Multiple Equilibria in Tullock Contests
Authors
Published
Economics Letters, vol.
112, pp.
216-219,
2011
Website
http://
ideas.repec.org/a/eee/ecolet/v112y2011i2p216-219.html
Abstract
We find the sufficient conditions for the existence of multiple equilibria in Tullock-type contests, and show that asymmetric equilibria arise even under symmetric prize and cost structures. We then present existing contests where multiple equilibria exist under reasonably weak conditions.
