UM  > Faculty of Social Sciences
Residential Collegefalse
Status已發表Published
Characterizing the Symmetric Mixed-Strategy Equilibrium in Rent-Seeking Contests: A Real Analysis Approach
Guang-Zhen Sun
2017-05-09
Source PublicationSSRN
Abstract

We take a real analysis approach to characterize the symmetric mixed-strategy equilibrium (SMSE) of rent-seeking contests for any intermediate value of the decisiveness parameter, allowing for both the ratio-form and the difference-form of contest success functions (CSF) that are axiomatized in Skaperdas (1996). For the ratio-form Tullock contest, we reproduce the results obtained by Ewerhart (2015) by invoking sophisticated complex analysis that SMSE is supported by a countably infinite set of pure strategies that has zero bid as an accumulation point and that the rent is completely dissipated. For the Hirshleifer-style difference-form of CSF, we show that the support of SMSE is a finite set of pure strategies including zero bid as one mass point and that the rent is partially dissipated. The similarity and differences in the profile of SMSE between the two canonical forms of CSF in the literature of contests are thereby illuminated.

KeywordRent-seeking Contests Symmetric Mixed-strategy Equilibrium Real Analysis, Rent Dissipation
DOI10.2139/ssrn.2965369
Language英語English
Fulltext Access
Citation statistics
Document TypeJournal article
CollectionFaculty of Social Sciences
DEPARTMENT OF ECONOMICS
AffiliationUniversity of Macau
First Author AffilicationUniversity of Macau
Recommended Citation
GB/T 7714
Guang-Zhen Sun. Characterizing the Symmetric Mixed-Strategy Equilibrium in Rent-Seeking Contests: A Real Analysis Approach[J]. SSRN, 2017.
APA Guang-Zhen Sun.(2017). Characterizing the Symmetric Mixed-Strategy Equilibrium in Rent-Seeking Contests: A Real Analysis Approach. SSRN.
MLA Guang-Zhen Sun."Characterizing the Symmetric Mixed-Strategy Equilibrium in Rent-Seeking Contests: A Real Analysis Approach".SSRN (2017).
Files in This Item:
There are no files associated with this item.
Related Services
Recommend this item
Bookmark
Usage statistics
Export to Endnote
Google Scholar
Similar articles in Google Scholar
[Guang-Zhen Sun]'s Articles
Baidu academic
Similar articles in Baidu academic
[Guang-Zhen Sun]'s Articles
Bing Scholar
Similar articles in Bing Scholar
[Guang-Zhen Sun]'s Articles
Terms of Use
No data!
Social Bookmark/Share
All comments (0)
No comment.
 

Items in the repository are protected by copyright, with all rights reserved, unless otherwise indicated.