Multi-player race
buir.contributor.author | Karagözoğlu, Emin | |
dc.citation.epage | 136 | en_US |
dc.citation.spage | 123 | en_US |
dc.citation.volumeNumber | 149 | en_US |
dc.contributor.author | Doğan, S. | en_US |
dc.contributor.author | Karagözoğlu, Emin | en_US |
dc.contributor.author | Keskin, K. | en_US |
dc.contributor.author | Sağlam, Ç. | en_US |
dc.date.accessioned | 2019-02-21T16:01:41Z | |
dc.date.available | 2019-02-21T16:01:41Z | |
dc.date.issued | 2018 | en_US |
dc.department | Department of Economics | en_US |
dc.description.abstract | We present a model of race with multiple players and study players’ effort choices and expected prizes in equilibrium. We show that, in equilibrium, once any two players win one battle each, the remaining players do not exert any effort anymore. This turns the continuation game into a two-player race. This is different than the results in previous two-player models of race, which report that all states of the game are reached with positive probabilities. We also provide a set of comparative static results on the effects of the number of players and the victory threshold. | |
dc.description.provenance | Made available in DSpace on 2019-02-21T16:01:41Z (GMT). No. of bitstreams: 1 Bilkent-research-paper.pdf: 222869 bytes, checksum: 842af2b9bd649e7f548593affdbafbb3 (MD5) Previous issue date: 2018 | en |
dc.description.sponsorship | We would like to thank an anonymous reviewer for constructive comments that improved the paper. Emin Karagözoğlu thanks TÜBİTAK (The Scientific and Technological Research Council of Turkey) for the post-doctoral research fellowship and the Department of Economics at Massachusetts Institute of Technology for their hospitality. The usual disclaimers apply. | |
dc.embargo.release | 2021-05-01 | en_US |
dc.identifier.doi | 10.1016/j.jebo.2018.03.008 | |
dc.identifier.eissn | 2328-7616 | en_US |
dc.identifier.issn | 0167-2681 | |
dc.identifier.uri | http://hdl.handle.net/11693/49900 | |
dc.language.iso | English | |
dc.publisher | Elsevier B.V. | |
dc.relation.isversionof | https://doi.org/10.1016/j.jebo.2018.03.008 | |
dc.relation.project | Department of Earth, Atmospheric and Planetary Sciences, Massachusetts Institute of Technology, EAPS, MIT | |
dc.source.title | Journal of Economic Behavior and Organization | en_US |
dc.subject | Contests | en_US |
dc.subject | Discouragement effect | en_US |
dc.subject | Dynamic games | en_US |
dc.subject | Momentum effect | en_US |
dc.subject | Race | en_US |
dc.title | Multi-player race | en_US |
dc.type | Article | en_US |
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