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Existence, Uniqueness, and Comparative Statics in Contests

In: Equilibrium Theory for Cournot Oligopolies and Related Games

Author

Listed:
  • Martin Kaae Jensen

    (University of Leicester)

Abstract

Many important games are aggregative games which allows for robust comparative statics analysis even when the games do not exhibit strategic complements or substitutes (Acemoglu and Jensen, Games Econ Behav 81:27–49, 2013). This paper establishes such comparative statics results for contests improving upon existing results by (i) allowing payoff functions to be discontinuous at the origin, and (ii) allowing for asymmetric rent-seeking contests and patent races. A leading example where (i) is relevant is the classical Tullock contest (Tullock G (1980) Efficient rent-seeking. In: Buchanan JM, Tollison RD, Tullock G (eds) Toward a theory of the rent-seeking society. Texas A&M Press, College Station, pp 97–112). The paper also studies existence and uniqueness of equilibria extending the results of Szidarovszky and Okuguchi (Games Econ Behav 18:135–140, 1997) and Cornes and Hartley (Econ Theory 26:923–946, 2005) to patent races.

Suggested Citation

  • Martin Kaae Jensen, 2016. "Existence, Uniqueness, and Comparative Statics in Contests," Springer Series in Game Theory, in: Pierre von Mouche & Federico Quartieri (ed.), Equilibrium Theory for Cournot Oligopolies and Related Games, pages 233-244, Springer.
    • Handle: RePEc:spr:spschp:978-3-319-29254-0_14
    DOI: 10.1007/978-3-319-29254-0_14
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    Citations

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    Cited by:

    1. Zenou, Yves & Xu, Jin & Zhou, Junjie, 2019. "Networks in Conflict: A Variational Inequality Approach," CEPR Discussion Papers 13647, C.E.P.R. Discussion Papers.
    2. Franke, Jörg & Metzger, Lars P., 2023. "Repeated Contests with Draws," Ruhr Economic Papers 1016, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    3. Christian Ewerhart & Federico Quartieri, 2020. "Unique equilibrium in contests with incomplete information," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 70(1), pages 243-271, July.
    4. Li, Bo & Wu, Zenan & Xing, Zeyu, 2023. "Optimally biased contests with draws," Economics Letters, Elsevier, vol. 226(C).
    5. Xu, Jin & Zenou, Yves & Zhou, Junjie, 2022. "Equilibrium characterization and shock propagation in conflict networks," Journal of Economic Theory, Elsevier, vol. 206(C).
    6. Adriana Gama & David Michael Rietzke, 2017. "Robust Comparative Statics in Contests," Working Papers 173174403, Lancaster University Management School, Economics Department.
    7. Emin Karagözoğlu & Kerim Keskin & Çağrı Sağlam, 2024. "Submodularity and supermodularity in contest games," International Journal of Economic Theory, The International Society for Economic Theory, vol. 20(2), pages 182-198, June.
    8. Gama, Adriana & Rietzke, David, 2019. "Monotone comparative statics in games with non-monotonic best-replies: Contests and Cournot oligopoly," Journal of Economic Theory, Elsevier, vol. 183(C), pages 823-841.
    9. Zenou, Yves & Bochet, Olivier & Faure, Mathieu & Long, Yan, 2020. "Perceived Competition in Networks," CEPR Discussion Papers 15582, C.E.P.R. Discussion Papers.
    10. Morgan, John & Tumlinson, Justin & Várdy, Felix, 2022. "The limits of meritocracy," Journal of Economic Theory, Elsevier, vol. 201(C).
    11. Bochet, Olivier & Faure, Mathieu & Long, Yan & Zenou, Yves, 2020. "Perceived Competition in Networks," CEPR Discussion Papers 15582, C.E.P.R. Discussion Papers.
    12. Jindapon, Paan & Yang, Zhe, 2017. "Risk attitudes and heterogeneity in simultaneous and sequential contests," Journal of Economic Behavior & Organization, Elsevier, vol. 138(C), pages 69-84.

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