Are Economic Agents Successful Optimizers? An Analysis Through Strategy in Tennis
AbstractWe 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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Bibliographic InfoPaper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2006-52.
Date of creation: 2006
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Inefficiency; Frontier; Optimal strategy; Tennis;
Find related papers by JEL classification:
- C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
- C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
- D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-07-02 (All new papers)
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