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Favorites and Underdogs: Strategic Behavior in an Experimental Contest

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  • Shogren, Jason F
  • Baik, Kyung H

Abstract

Conflicts between favorites and underdogs are everyday phenomena. The authors examine their strategic behavior in an experimental contest and find behavior partially consistent with predictions. Favorites given a first-mover advantage do overcommit effort relative to Nash. Underdogs often select the best response effort level given the favorite's move. Overall dissipation of the prize was significantly higher with the strategic commitment relative to Nash. Copyright 1992 by Kluwer Academic Publishers

Suggested Citation

  • Shogren, Jason F & Baik, Kyung H, 1992. "Favorites and Underdogs: Strategic Behavior in an Experimental Contest," Public Choice, Springer, vol. 74(2), pages 191-205, September.
  • Handle: RePEc:kap:pubcho:v:74:y:1992:i:2:p:191-205
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    Cited by:

    1. Emmanuel Dechenaux & Dan Kovenock & Roman Sheremeta, 2015. "A survey of experimental research on contests, all-pay auctions and tournaments," Experimental Economics, Springer;Economic Science Association, vol. 18(4), pages 609-669, December.
    2. Jason Shogren & Thomas Crocker, 1991. "Cooperative and noncooperative protection against transferable and filterable externalities," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 1(2), pages 195-214, June.
    3. Shaffer, Sherrill & Shogren, Jason F., 2009. "Repeated contests: A general parameterization," Economics Letters, Elsevier, vol. 105(2), pages 159-161, November.
    4. Kyung Hwan Baik & Todd Cherry & Stephan Kroll & Jason Shogren, 1999. "Endogenous Timing in a Gaming Tournament," Theory and Decision, Springer, vol. 47(1), pages 1-21, August.
    5. Holt, Todd Sanders, 1992. "Timing theory in contests with experimental evidence," ISU General Staff Papers 1992010108000017574, Iowa State University, Department of Economics.
    6. Martin Kolmar & Andreas Wagener, 2010. "Inefficient Group Organization as Optimal Adaption to Dominant Environments," CESifo Working Paper Series 3157, CESifo Group Munich.
    7. Andrzej Kwiatkowski, 2010. "Affirmative Action Policy and Effort Levels. Sequential-Move Contest Game Argument," Dundee Discussion Papers in Economics 242, Economic Studies, University of Dundee.
    8. Kyung Hwan Baik & Shogren, Jason F., 1995. "Contests with spying," European Journal of Political Economy, Elsevier, vol. 11(3), pages 441-451, September.

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