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CHAOTIC DYNAMICS IN CONTESTS
Author(s) -
Wärneryd Karl
Publication year - 2018
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/ecin.12514
Subject(s) - chaotic , economics , mathematical economics , dynamics (music) , econometrics , microeconomics , physics , management , acoustics
Under a myopic best‐reply dynamic, efforts in repeated contests may exhibit chaotic behavior. This may help explain, for example, why experimental data often show nonconvergence to one‐shot equilibrium efforts. ( JEL C61, C72, D72, D74, D83)