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dc.contributor.authorKonrad, Kai A.en
dc.contributor.authorKovenock, Danen
dc.date.accessioned2010-08-11T09:11:41Z-
dc.date.available2010-08-11T09:11:41Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/37199-
dc.description.abstractWe study an all-pay contest with multiple identical prizes (lifeboat seats). Prizes are partitioned into subsets of prizes (lifeboats). Players play a two-stage game. First, each player chooses an element of the partition (a lifeboat). Then each player competes for a prize in the subset chosen (a seat). We characterize and compare the subgame perfect equilibria in which all players employ pure strategies or all players play identical mixed strategies in the first stage. We find that the partitioning of prizes allows for coordination failure among players when they play nondegenerate mixed strategies and this can shelter rents and reduce rent dissipation compared to some of the less efficient pure strategy equilibria.en
dc.language.isoengen
dc.publisher|aVerein für Socialpolitik |cFrankfurt a. M.en
dc.relation.ispartofseries|aBeiträge zur Jahrestagung des Vereins für Socialpolitik 2010: Ökonomie der Familie - Session: Auctions with Asymmetric Information |xA13-V3en
dc.subject.jelD72en
dc.subject.jelD74en
dc.subject.jelD79en
dc.subject.ddc330en
dc.subject.keywordall-pay contesten
dc.subject.keywordmultiple prizesen
dc.subject.keywordrent dissipationen
dc.subject.keywordlifeboaten
dc.titleThe Lifeboat Problem-
dc.typeConference Paperen
dc.identifier.ppn654650381en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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