factors are shown to cause delay, although for different reasons. Without commitment, individual contributions are strategic …

Why is there delay in contests? In this paper we follow and extend the line of reasoning of Carl von Clausewitz to … explain delay. For a given contest technology, delay may occur if there is an asymmetry between defense and attack, if the …

-hyperbolic time preferences increasingly common in the economics literature - equilibrium is unique and lacks delay. However, when one … bargainer is more patient about a single period's delay from the present than one that occurs in the near future, the game … permits a novel form of equilibrium multiplicity and delay. Time preferences with this property have most recently been …