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Average-opinion group contest

Author

Listed:
  • Dongryul Lee

    (Department of Economics, Sungshin University)

Abstract

We study the the average-opinion group contest in which each group's effort level is determined as the median of the effort levels of its group members. We find that, in the average-opinion group contest, both free rider and coordination problem exist among the players in each group, and there exist multiple Nash equilibria of the game. This is the mixed characteristics of each Nash equilibria of the perfect-substitutes, the weakest-link, and the best-shot group contest. Also, we specifically figure out the Nash equilibria of the average-opinion group contest in several examples.

Suggested Citation

  • Dongryul Lee, 2017. "Average-opinion group contest," Economics Bulletin, AccessEcon, vol. 37(1), pages 79-93.
    • Handle: RePEc:ebl:ecbull:eb-16-00305
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    File URL: http://www.accessecon.com/Pubs/EB/2017/Volume37/EB-17-V37-I1-P9.pdf
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    References listed on IDEAS

    as
    1. Garfinkel, Michelle R. & Skaperdas, Stergios, 2007. "Economics of Conflict: An Overview," Handbook of Defense Economics, in: Keith Hartley & Todd Sandler (ed.), Handbook of Defense Economics, edition 1, volume 2, chapter 22, pages 649-709, Elsevier.
    2. Konrad, Kai A., 2009. "Strategy and Dynamics in Contests," OUP Catalogue, Oxford University Press, number 9780199549603.
    3. Chowdhury, Subhasish M. & Lee, Dongryul & Sheremeta, Roman M., 2013. "Top guns may not fire: Best-shot group contests with group-specific public good prizes," Journal of Economic Behavior & Organization, Elsevier, vol. 92(C), pages 94-103.
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    Cited by:

    1. Dongryul Lee & Pilwon Kim, 2022. "Group formation in a dominance-seeking contest," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 58(1), pages 39-68, January.

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    More about this item

    Keywords

    Group contest; Public-goods prize; Average opinion game;
    All these keywords.

    JEL classification:

    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory

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