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Strategy and Dynamics in Contests (Hardcover)
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Strategy and Dynamics in Contests (Hardcover)
Series: London School of Economics Perspectives in Economic Analysis
Expected to ship within 12 - 19 working days
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This book describes the theory structure underlying contests, in
which players expend effort and/or spend money in trying to get
ahead of one another. Uniquely, this effort is sunk and cannot be
recovered, regardless of whether a player wins or loses in the
competition. Such interactions include diverse phenomena such as
marketing and advertising by firms, litigation, relative reward
schemes in firms, political competition, patent races, sports,
military combat, war and civil war. These have been studied in the
field of contest theory both within these specific contexts and at
a higher level of abstraction.
The purpose of this book is to describe the fundamental common
properties of these types of interactions and to uncover some
common properties or laws that govern them. The book begins by
describing the properties of static contests and tournaments.
Aspects such as timing, entry, sabotage and delegation are added
and contest design issues such as the admission or exclusion of
players and the structure of prizes are discussed. Further,
structures are analysed in which players interact repeatedly in the
same or different contest environments. Examples are inter-group
conflict followed by intra-group rivalry, elimination tournaments
and other dynamic contest structures.
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