Multi-player race

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buir.contributor.authorKaragözoğlu, Emin
dc.citation.epage136en_US
dc.citation.spage123en_US
dc.citation.volumeNumber149en_US
dc.contributor.authorDoğan, S.en_US
dc.contributor.authorKaragözoğlu, Eminen_US
dc.contributor.authorKeskin, K.en_US
dc.contributor.authorSağlam, Ç.en_US
dc.date.accessioned2019-02-21T16:01:41Z
dc.date.available2019-02-21T16:01:41Z
dc.date.issued2018en_US
dc.departmentDepartment of Economicsen_US
dc.description.abstractWe 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.provenanceMade 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: 2018en
dc.description.sponsorshipWe 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.release2021-05-01en_US
dc.identifier.doi10.1016/j.jebo.2018.03.008
dc.identifier.eissn2328-7616en_US
dc.identifier.issn0167-2681
dc.identifier.urihttp://hdl.handle.net/11693/49900
dc.language.isoEnglish
dc.publisherElsevier B.V.
dc.relation.isversionofhttps://doi.org/10.1016/j.jebo.2018.03.008
dc.relation.projectDepartment of Earth, Atmospheric and Planetary Sciences, Massachusetts Institute of Technology, EAPS, MIT
dc.source.titleJournal of Economic Behavior and Organizationen_US
dc.subjectContestsen_US
dc.subjectDiscouragement effecten_US
dc.subjectDynamic gamesen_US
dc.subjectMomentum effecten_US
dc.subjectRaceen_US
dc.titleMulti-player raceen_US
dc.typeArticleen_US

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