Continuous-time best-response and related dynamics in Tullock contests with convex costs
Tullock contests model real-life scenarios that range from competition among proof-of-work blockchain miners to rent-seeking and lobbying activities. We show that continuous-time best-response dynamics in Tullock contests with convex costs converges to the unique equilibrium using Lyapunov-style arg...
| Main Authors: | , , |
|---|---|
| Format: | Internet publication |
| Language: | English |
| Published: |
2024
|