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Contests with a Non-Convex Strategy Space

Doron Klunover and John Morgan

Papers from arXiv.org

Abstract: We characterize the Nash equilibria of a class of two-player contests with "lumpy" effort. Our main result shows that under quite reasonable conditions, constraints on the players' choice sets heighten competition. This stands in sharp contrast to the conventional wisdom that regulation decreases competition, but appears to be consistent with anecdotal evidence. Examples of this phenomenon include arms control, rules and regulations in sports, and drug wars. We also show that a constraint on available strategies can benefit a player.

New Economics Papers: this item is included in nep-gth and nep-mic
Date: 2018-09, Revised 2019-03
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