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We study equilibrium in a multistage race in which players compete in a sequence of simultaneous move component contests. Players may win a prize for winning each component contest, as well as a prize for winning the overall race. Each component contest is an all-pay auction with complete...
Persistent link: https://www.econbiz.de/10005835218
relative strength and closeness to victory increase the probability of winning the battle at hand. Patience reduces the role of … by which the allocation of prizes are governed by possibly repeated conflict. Our results contribute to an explanation … why. Compared to a single stage conflict, such structures can reduce the overall resources that are dissipated among the …
Persistent link: https://www.econbiz.de/10005835345
We study the role of an imbalance in fighting strengths when players bargain in the shadow of conflict. Our … experimental results suggest: In a simple bargaining game with an exogenous mediation proposal, the likelihood of conflict is … independent of the balance of power. If bargaining involves endogenous demand choices, however, the likelihood of conflict is …
Persistent link: https://www.econbiz.de/10011202941
expected change in relative strengths is moderate, and if the additional cost of investment in future strength is low. …
Persistent link: https://www.econbiz.de/10009367853
, R&D contests, electoral competition in political markets, military conflict and sports. I survey here this type of … competition which is sometimes called contest or tournament. I focus on the role of its various design aspects, such as prize …
Persistent link: https://www.econbiz.de/10009367917
survey includes the free-rider problem and the hold-up problem that emerges in the baseline model, the role of … supermodularity in alliance members' effort contributions, the role of budget constraints, the role of information transfer inside the … alliance, and the role of in-group favoritism. …
Persistent link: https://www.econbiz.de/10009397103
outside enemy, brothers in arms may already anticipate future internal conflict about dividing the spoils of winning; however …, this subsequent internal conflict does not discourage alliance members from expending much effort in the contest against …
Persistent link: https://www.econbiz.de/10009397117
in endogenously formed alliances cope better with the moral hazard problem in groups than players who are forced into an …
Persistent link: https://www.econbiz.de/10010860231
We experimentally study endogenous alliance formation and contest effort choices in a generic three-player contest. Differences in intrinsic or extrinsic incentives to expend effort cause self-selection. Weakly motivated players have an incentive to enter into an alliance and to free-ride on...
Persistent link: https://www.econbiz.de/10011190199
conflict and more intense fighting. …
Persistent link: https://www.econbiz.de/10011140958