Tullock contests reward information advantages

Avishay Aiche; Ezra Einy; Ori Haimanko; Diego Moreno; Aner Sela; Benyamin Shitovitz

doi:10.1016/j.econlet.2018.08.017

Tullock contests reward information advantages

Avishay Aiche, Ezra Einy, Ori Haimanko, Diego Moreno, Aner Sela, Benyamin Shitovitz

Department of Economics

Research output: Contribution to journal › Article › peer-review

Abstract

In Tullock contests in which the common value of the prize is uncertain, information advantages are rewarded: if a player i has better information about the value than some other player j, then the payoff of i is greater or equal to the payoff of j, regardless of the information of the other players.

Original language	English
Pages (from-to)	34-36
Number of pages	3
Journal	Economics Letters
Volume	172
DOIs	https://doi.org/10.1016/j.econlet.2018.08.017
State	Published - Nov 2018

Bibliographical note

Funding Information:
Acknowledgments of financial support. Einy: Israel Science Foundation, Israel, grant 648/2. Moreno: Ministerio Economía (Spain), grants ECO2014-55953-P and MDM2014-0431, and Comunidad de Madrid, Spain, grant S2015/HUM-3444.

Publisher Copyright:
© 2018 Elsevier B.V.

Keywords

Common value
Information advantage
Tullock contests

ASJC Scopus subject areas

Finance
Economics and Econometrics

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10.1016/j.econlet.2018.08.017

Cite this

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title = "Tullock contests reward information advantages",

abstract = "In Tullock contests in which the common value of the prize is uncertain, information advantages are rewarded: if a player i has better information about the value than some other player j, then the payoff of i is greater or equal to the payoff of j, regardless of the information of the other players.",

keywords = "Common value, Information advantage, Tullock contests",

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year = "2018",

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doi = "10.1016/j.econlet.2018.08.017",

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AU - Einy, Ezra

AU - Haimanko, Ori

AU - Moreno, Diego

AU - Sela, Aner

AU - Shitovitz, Benyamin

N1 - Funding Information: Acknowledgments of financial support. Einy: Israel Science Foundation, Israel, grant 648/2. Moreno: Ministerio Economía (Spain), grants ECO2014-55953-P and MDM2014-0431, and Comunidad de Madrid, Spain, grant S2015/HUM-3444. Publisher Copyright: © 2018 Elsevier B.V.

PY - 2018/11

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N2 - In Tullock contests in which the common value of the prize is uncertain, information advantages are rewarded: if a player i has better information about the value than some other player j, then the payoff of i is greater or equal to the payoff of j, regardless of the information of the other players.

AB - In Tullock contests in which the common value of the prize is uncertain, information advantages are rewarded: if a player i has better information about the value than some other player j, then the payoff of i is greater or equal to the payoff of j, regardless of the information of the other players.

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KW - Information advantage

KW - Tullock contests

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SP - 34

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JO - Economics Letters

JF - Economics Letters

ER -

Tullock contests reward information advantages

Abstract

Bibliographical note

Keywords

ASJC Scopus subject areas

Access to Document

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