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We study competition among contests in a general model that allows for an arbitrary and heterogeneous space of contest design, where the goal of the contest designers is to maximize the contestants sum of efforts. Our main result shows that optimal contests in the monopolistic setting (i.e., those that maximize the sum of efforts in a model with a single contest) form an equilibrium in the model with competition among contests. Under a very natural assumption these contests are in fact dominant, and the equilibria that they form are unique. Moreover, equilibria with the optimal contests are Pareto-optimal even in cases where other equilibria emerge. In many natural cases, they also maximize the social welfare.
Incentives are more likely to elicit desired outcomes when they are designed based on accurate models of agents strategic behavior. A growing literature, however, suggests that people do not quite behave like standard economic agents in a variety of
When selling information products, the seller can provide some free partial information to change peoples valuations so that the overall revenue can possibly be increased. We study the general problem of advertising information products by revealing
We identify the first static credible mechanism for multi-item additive auctions that achieves a constant factor of the optimal revenue. This is one instance of a more general framework for designing two-part tariff auctions, adapting the duality fra
The Competition Complexity of an auction setting refers to the number of additional bidders necessary in order for the (deterministic, prior-independent, dominant strategy truthful) Vickrey-Clarke-Groves mechanism to achieve greater revenue than the
Incentive mechanisms for crowdsourcing have been extensively studied under the framework of all-pay auctions. Along a distinct line, this paper proposes to use Tullock contests as an alternative tool to design incentive mechanisms for crowdsourcing.