Symmetric two-stage contests with budget constraints

被引：0
|
作者：
William E. Stein
Amnon Rapoport
机构：
[1] Texas A & M University,Mays Business School
[2] University of Arizona,Department of Management and Policy
来源：
Public Choice | 2005年 / 124卷
关键词：
Public Finance; Budget Constraint; Equilibrium Solution; Subgame Perfect Equilibrium; Individual Expenditure;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
The impact of a budget constraint on individual expenditures is examined in two models of two-stage contests with homogenous and risk-neutral players competing to win a single, indivisible, commonly valued rent. The set of players is partitioned into equally sized groups. In the first model, one contestant from each group survives to compete on the second stage against the other survivors. In the second model, one group survives the first stage and its members compete against each other on the second stage. We derive and discuss the symmetric subgame perfect equilibrium solution for each model.
引用
收藏
页码：309 / 328
页数：19
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