This article presents an equivalence theorem in the context of Tullock’s augmented lottery contest with external or internal cost reimbursement. Three alternative modes of reimbursement are studied. The equivalence implies that, even though the augmented contest is vulnerable to framing biases, it is strategically neutral.
- Equivalent Modes
All Science Journal Classification (ASJC) codes
- Statistics and Probability
- Statistics, Probability and Uncertainty
- Applied Mathematics