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Wednesday, April 17, 2019
4:00 PM - 5:00 PM
Baxter B125

Ulric B. and Evelyn L. Bray Social Sciences Seminar

Correlated Large Contests
Juuso Välimäki, Professor, Department of Economics, Aalto University,

Abstract: We investigate the symmetric equilibria of contests with correlated private values when the number of contestants and/or prizes is large. We show that the equilibria are often inefficient in the sense that contestants with lower values win over contestants with higher valuations.

Written with Chang Koo Chi and Pauli Murto.

For more information, please contact Mary Martin by phone at 626-395-4571 or by email at mmartin@caltech.edu