Tiebreaks push competition—not only in sports

The strategy used for resolving ties and determining bid limits decides on whether competition is pushed or not. In weightlifting, for instance, the tie is resolved in favor of the athlete with the lower body mass. In and outside of sports, competition is often pushed by letting the supposedly weaker competitor win in case of a tie. This is the result of a study on all-pay auctions by economists of Karlsruhe Institute of Technology. —> Read More