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We investigate the birational geometry (in the sense of Mori's program) of the moduli space of rank 2 semistable parabolic vector bundles on a rational curve. We compute the effective cone of the moduli space and show that all birational models obtained by Mori's program are also moduli spaces of parabolic vector bundles with certain parabolic weights.

Birational Geometry of the Moduli Space of Rank 2 Parabolic Vector Bundles on a Rational Curve