TITLE

Favorites and underdogs: Strategic behavior in an experimental contest

AUTHOR(S)
Shogren, Jason F.; Baik, Kyung H.
PUB. DATE
September 1992
SOURCE
Public Choice;Sep1992, Vol. 74 Issue 2, p191
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Conflicts between favorites and underdogs are everyday phenomena. We 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.
ACCESSION #
17166159

 

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