Dilemma of the Equality: an All-pay Cont
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Takuya Kura
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Article
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1999
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Elsevier Science
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English
β 163 KB
An all-pay contest in which many players compete for an indivisible resource and each player continuously maintains a different resource holding potential (RHP) is analysed. There exists the unique pure ESS function, which is common sense; that is, a higher RHP induces a higher level of investment,