Malueg, David A.; Yates, Andrew J. - In: The Review of Economics and Statistics 92 (2010) 3, pp. 689-692
We study strategic choice of effort in best-of-three contests between equally skilled players. Economic theory predicts such contests are more likely to end in two rounds than in three. If, however, a contest reaches a third round, each player is equally likely to win. We test these predictions...