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• Heidelberg: Springer  (1)
• Göttingen: Georg-August-Universität Göttingen, Research Training Group (RTG) 1666 - GlobalFood
• Göttingen: Ibero-Amerika-Inst. für Wirtschaftsforschung
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Heidelberg: Springer
Publication Date: 2019-04-19
Description: This paper analyzes the effect of competition in a dynamic contest in which agents of two types (A and B) differ in their expected performances; environments where type A outperforms type B are more frequent than those where B outperforms A. In each period, the population of agents is randomly matched in groups of n members (each group faces a particular environment), with the top k〈n performing agents from each group being the winners of the prizes. Hence, the ratio \frac{k}{n} determines the proportion of winning agents in each group. This ratio also describes the strength of competition in the group: the lower \frac{k}{n} is, the higher the level of competition is. Our results show that type A eventually dominates the entire population with moderate competition, but type B survives in the long run for high levels of competition. Hence, we obtain that no matter how low the expected success rate of a type is, if the strength of competition is high enough those agents with the lowest expected success rate survive in the long run.
Keywords: D00 ; D23 ; C73 ; ddc:330 ; Contest ; Competition ; Strength of competition ; Selection process
Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
Language: English
Type: doc-type:article
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