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Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | Investment behaviour in a two period contest model |
| Organization Unit | |
| Authors |
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| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
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| Journal Title | Journal of Institutional and Theoretical Economics JITE |
| Publisher | Mohr Siebeck |
| Geographical Reach | international |
| ISSN | 0932-4569 |
| Volume | 165 |
| Number | 3 |
| Page Range | 401 - 417 |
| Date | 2009 |
| Abstract Text | This paper presents a two-period model of talent investments in which two clubs compete for a contest prize. We show that multiple equilibria are possible, using a closed-loop approach with strictly convex costs: The large-market club invests in both periods more than the small-market club or the small-market club invests in both periods more than the large-market club. In the case of an open-loop approach with strictly convex costs, however, the large-market club always invests more. The open-loop and closed-loop equilibria coincide if costs are linear. |
| Digital Object Identifier | 10.1628/093245609789471998 |
| Other Identification Number | merlin-id:949 |
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