Scandinavian Working Papers in Economics

SSE Working Paper Series in Economics,
Stockholm School of Economics

No 2016:4: Chaotic Dynamics in Contests

Karl Wärneryd ()
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Karl Wärneryd: Dept. of Economics, Postal: Stockholm School of Economics, P.O. Box 6501, SE-113 83 Stockholm, Sweden

Abstract: Under a myopic best-reply dynamic, efforts in repeated contests may exhibit chaotic behavior. This may help explain, e.g., why experimental data often show nonconvergence to one-shot equilibrium efforts.

Keywords: Contests; dynamics; chaos

JEL-codes: C61; C72; D72; D74; D83

13 pages, September 16, 2016

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