TY - JOUR
T1 - Budget-constrained multi-battle contests
T2 - A new perspective and analysis
AU - Cheng, Chu Han
AU - Chen, Po-An
AU - Hon, Wing Kai
N1 - Publisher Copyright:
© 2018 Elsevier B.V.
PY - 2018/4/18
Y1 - 2018/4/18
N2 - In a multi-battle contest, each time a player competes by investing some of her budgets or resources in a component battle to collect a value if winning the battle. There are multiple battles to fight, and the budgets get consumed over time. The final winner in the overall contest is the one who first reaches some amount of total value. Examples include R & D races, sports competition, elections, and many more. A player needs to make adequate sequential actions to win the contest against dynamic competition over time from the others. We are interested in how much budgets the players would need and what actions they should take in order to perform well. We model and study such budget-constrained multi-battle contests where each component battle is a sequential first-price or all-pay auction. We focus on analyzing the 2-player budget ratio that guarantees a player's winning against the other omnipotent player. In the settings considered, we find the optimal budget ratios and the corresponding bidding strategies. Our definition of game, budget constraints, and emphasis on budget analyses provide a new perspective and analysis for multi-battle contests.
AB - In a multi-battle contest, each time a player competes by investing some of her budgets or resources in a component battle to collect a value if winning the battle. There are multiple battles to fight, and the budgets get consumed over time. The final winner in the overall contest is the one who first reaches some amount of total value. Examples include R & D races, sports competition, elections, and many more. A player needs to make adequate sequential actions to win the contest against dynamic competition over time from the others. We are interested in how much budgets the players would need and what actions they should take in order to perform well. We model and study such budget-constrained multi-battle contests where each component battle is a sequential first-price or all-pay auction. We focus on analyzing the 2-player budget ratio that guarantees a player's winning against the other omnipotent player. In the settings considered, we find the optimal budget ratios and the corresponding bidding strategies. Our definition of game, budget constraints, and emphasis on budget analyses provide a new perspective and analysis for multi-battle contests.
KW - Budget constraints
KW - Multi-battle contests
KW - Optimal budget ratio
UR - http://www.scopus.com/inward/record.url?scp=85043497590&partnerID=8YFLogxK
U2 - 10.1016/j.tcs.2018.01.018
DO - 10.1016/j.tcs.2018.01.018
M3 - Article
AN - SCOPUS:85043497590
SN - 0304-3975
VL - 721
SP - 16
EP - 26
JO - Theoretical Computer Science
JF - Theoretical Computer Science
ER -