Economic Theory ( IF 1.2 ) Pub Date : 2021-04-05 , DOI: 10.1007/s00199-021-01358-5 Ori Haimanko
We prove the existence of a behavioral-strategy Bayesian Nash equilibrium in contests where each contestant’s probability to win is continuous in efforts outside the zero-effort profile, monotone in his own effort, and greater that 1/2 if that contestant is the only one exerting positive effort. General type spaces, and in particular a continuum of information types, are allowed. As a corollary, the existence of a pure-strategy Bayesian Nash equilibrium is established in generalized Tullock contests, where the probability to win is strictly concave in one’s own effort for any non-zero effort profile of other players.
中文翻译:
在(几乎连续的)竞赛中存在贝叶斯纳什均衡
我们证明了竞赛中存在一种行为策略贝叶斯纳什均衡,其中每个参赛者的获胜概率在零努力状况之外的努力中是连续的,在他自己的努力中是单调的,如果该选手是唯一的,则大于1/2发挥积极的作用。允许使用通用类型空间,尤其是信息类型的连续体。作为推论,纯策略贝叶斯纳什均衡的存在是在广义的Tullock竞赛中建立的,对于其他玩家的任何非零努力状况,获胜的可能性完全取决于自己的努力。