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Strategic Behavior in Contests

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  • Dixit, Avinash K

Abstract

This paper considers the effect of precommitment in contests where the rivals expend effort to win a prize. With two asymmetric players, it is found that the favorite will commit effort at a higher level than that in a Nash equilibrium without commitment, and the underdog at a lower level. With many players, the absence of an odds -on favorite among the rivals is sufficient to ensure overcommitment by any one player. Applications to sports, oligopoly, and rent seekin g are discussed. Copyright 1987 by American Economic Association.

Suggested Citation

  • Dixit, Avinash K, 1987. "Strategic Behavior in Contests," American Economic Review, American Economic Association, vol. 77(5), pages 891-898, December.
  • Handle: RePEc:aea:aecrev:v:77:y:1987:i:5:p:891-98
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    References listed on IDEAS

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    1. Olivier J. Blanchard, 1986. "The Wage Price Spiral," The Quarterly Journal of Economics, Oxford University Press, pages 543-565.
    2. Olivier J. Blanchard & Nobuhiro Kiyotaki, 1985. "Monopolistic Competition, Aggregate Demand Externalities and Real Effects of Nominal Money," NBER Working Papers 1770, National Bureau of Economic Research, Inc.
    3. George A. Akerlof & Janet L. Yellen, 1985. "A Near-Rational Model of the Business Cycle, with Wage and Price Inertia," The Quarterly Journal of Economics, Oxford University Press, vol. 100(Supplemen), pages 823-838.
    4. Rotemberg, Julio J, 1982. "Sticky Prices in the United States," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1187-1211, December.
    5. Carlton, Dennis W, 1986. "The Rigidity of Prices," American Economic Review, American Economic Association, pages 637-658.
    6. Eytan Sheshinski & Yoram Weiss, 1977. "Inflation and Costs of Price Adjustment," Review of Economic Studies, Oxford University Press, vol. 44(2), pages 287-303.
    7. Simon, Julian L, 1969. "A Further Test of the Kinky Oligopoly Demand Curve," American Economic Review, American Economic Association, pages 971-975.
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