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Bester, Helmut; Konrad, Kai A. (2004): Delay in contests. In: European Economic Review, Vol. 48, No. 5: pp. 1169-1178

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Why is there delay in contests? In this paper, we follow and extend the line of reasoning of Carl von Clausewitz to explain delay. For a given contest technology, delay may occur if there is an asymmetry between defense and attack, if the expected change in relative strengths is moderate, and if the additional cost of investment in future strength is low. © 2003 Elsevier B.V. All rights reserved.

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