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Konrad (2007) - Strategy In Contests-An Introduction (view source)
Revision as of 02:47, 12 April 2010
, 02:47, 12 April 2010→All-pay auctions
The contest function for player 1 (for player 2 it is <math>1-p_1\,</math>) is:
<math>
p_1(x) =
\end{cases}
</math>
There is no equilibrium in pure strategies. This can be proved by contradiction. In mixed strategies there is an equilibrium described by the CDF of the distributions of effort as follows:
<math>
\end{cases}
</math>
<math>
F_2(x_2) =
