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Multi-battle team contests are ubiquitous in real-life competitions. All temporal structures of multi-battle team contests yield the same total effort, as demonstrated by Fu, Lu, and Pan (2015, American Economic Review, 105(7): 2120-40)'s remarkable temporal-structure independence. Rather than...
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In a dynamic contest where it is costly to compete, a player who is behind must decide whether to surrender or to keep fighting in the face of bleak odds. We experimentally examine the game theoretic prediction of last stand behavior in a multi-battle contest with a winning prize and losing...
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While the game-theoretic analysis of conflict is often based on the assumption of multiplicative noise, additive noise …-pay auction. …
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noise. In pure strategies, any asymmetric equilibrium corresponds to one-sided dominance, but there is also a variety of … in cut-throat competition, while any others become ultimately inactive. Of some conceptual interest is the observation …
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While the game-theoretic analysis of conflict is often based upon the assumption of multiplicative noise, additive … limit, equilibria in the Hirshleifer contest converge to equilibria in the corresponding all-pay auction. …
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This paper examines multi-battle contests whose extensive form can be represented in terms of a finite state machine. We start by showing that any contest that satisfies our assumptions decomposes into two phases, a principal phase (in which states cannot be revisited) and a concluding...
Persistent link: https://www.econbiz.de/10011981199
the opportunity to engage in a sequence of battles in an attempt to win the war. Each battle is an all-pay auction in … states of the game, the "tipping states", which are determined by the contestants' relative strengths, their distances to … by which the allocation of prizes are governed by possibly repeated conflict. Our results contribute to an explanation …
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