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Are economic agents succesful optimizers? : an analysis through strategy in tennis

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Author Info
Klaassen, Franc J.G.M.
Magnus, Jan R. (Tilburg University, Center for Economic Research)

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Abstract

We consider the question whether top tennis players in a top tournament (Wimbledon) employ an optimal (efficient) service strategy. We show that top players do not, in general, follow an optimal strategy, and we provide a lower bound of the inefficiency. The inefficiency regarding winning a point on service is on average at least 1.1% for men and 2.0% for women, leading to a possible increase of income for the efficient player of 18.7% for men and 32.8% for women. We use these findings to shed some light on the question whether economic agents are successful optimizers.

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Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 52.

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Date of creation: 2006
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Handle: RePEc:dgr:kubcen:200652

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Find related papers by JEL classification:
C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Semiparametric and Nonparametric Methods
C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Statistical Simulation Methods
D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
D21 - Microeconomics - - Production and Organizations - - - Firm Behavior

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