Article ID Journal Published Year Pages File Type
5034521 Journal of Economic Behavior & Organization 2017 33 Pages PDF
Abstract
We consider a model where two players compete for n items having different common values in a Blotto game. Players must decide how to allocate their common budgets across all n items. The winner of each item is determined stochastically using a lottery mechanism which yields a unique equilibrium in pure strategies. We analyze behavior under two competing payoff objectives found in the Blotto games literature that have not been previously compared: (i) players aim to maximize their total expected payoff and (ii) players maximize the probability of winning a majority value of all n items. We report results from an experiment where subjects face both payoff objectives and we find support for the differing theoretical predictions.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Authors
, ,