2747脑筋急转弯简单derivationshort
All-Pay Contest Break-Even Effort
题目
Two equally skilled quants enter an all-pay contest for a prize worth . A contestant who spends effort while the rival spends wins with probability , and everyone pays their own effort regardless of outcome. Holding fixed, write the payoff of effort and solve the equation that defines break-even effort.
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你的答案
Payoff
Break-even effort