We study strategic investment decisions in multi-stage contests with heterogeneous players. Our theoretical model of a round-robin rank-order tournament predicts that players conserve resources in a current contest to spend more in the subsequent contest if the degree of heterogeneity in the...

We study strategic investment decisions in multi-stage contests with heterogeneous players. Our theoretical model of a round-robin rank-order tournament predicts that players conserve resources in a current contest to spend more in the subsequent contest if the degree of heterogeneity in the...

This article empirically details the trade-off between scoring and competitive balance in professional basketball. Noting reduced time of possessions in 2000, basketball federations sought to increase the speed and attractiveness of the game. At the same time an increase in possessions reduce...