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Commitment in symmetric contests

Author

Listed:
  • Alex Possajennikov

    (University of Nottingham)

Abstract

The paper proves that in two-player logit form symmetric contests with concave success function, commitment to a particular strategy does not increase a player's payoff, while in contests with more than two players it does. The paper also provides a contest-like game in which commitment does not increase a player''s payoff for any number of players.

Suggested Citation

  • Alex Possajennikov, 2009. "Commitment in symmetric contests," Economics Bulletin, AccessEcon, vol. 29(1), pages 375-383.
    • Handle: RePEc:ebl:ecbull:eb-08c70062
    as

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    File URL: http://www.accessecon.com/Pubs/EB/2009/Volume29/EB-09-V29-I1-P39.pdf
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    References listed on IDEAS

    as
    1. Alex Possajennikov, 2008. "On the Survival of Payoff Maximizing Behavior and Delegation in Contests," Discussion Papers 2008-15, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
    2. Onsong Shin & Michael R. Baye, 1999. "Strategic Behavior in Contests: Comment," American Economic Review, American Economic Association, vol. 89(3), pages 691-693, June.
    3. Vickers, John, 1985. "Delegation and the Theory of the Firm," Economic Journal, Royal Economic Society, vol. 95(380a), pages 138-147, Supplemen.
    4. Dixit, Avinash K, 1987. "Strategic Behavior in Contests," American Economic Review, American Economic Association, vol. 77(5), pages 891-898, December.
    5. Matthias Kräkel, 2002. "Delegation and strategic incentives for managers in contests," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 23(8), pages 461-470.
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    Cited by:

    1. Possajennikov Alex, 2010. "On Delegation in Contests and the Survival of Payoff Maximizing Behavior," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 10(1), pages 1-13, June.
    2. Doron Klunover & John Morgan, 2018. "A note on contests with a constrained choice set of effort," Papers 1809.04436, arXiv.org, revised Sep 2020.

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    More about this item

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D7 - Microeconomics - - Analysis of Collective Decision-Making

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