Dynamic contests and the discouragement effect

Considering several main types of dynamic contests (the race, the tug-of-war, elimination contests and iterated incumbency fights) we identify a common pattern: the discouragement effect. This effect explains why the sum of rent-seeking efforts often falls considerably short of the prize that is at stake. It may cause violent conflict in early rounds, but may also lead to long periods of peaceful interaction.

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Year of publication:	2012
Authors:	Konrad, Kai A.
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	dynamic contest \| discouragement \| tournament \| repeated fighting

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Series:	Munich Reprints in Economics.
Type of publication:	Book / Working Paper
Notes:	Published in Revue d'Economie Politique 2 122(2012): pp. 233-256
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011096152