Winner-Take-Most Game
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A Winner-Take-Most Game is a competitive game whose natural end-state has few winners with most of the game winnings.
- Example(s):
- Counter-Example(s):
- See: Tit-for-Tat Strategy, Laissez-faire Economic Policy, Nash Equilibrium, Natural Monopoly.
References
2018
- (Giridharadas, 2018) ⇒ Anand Giridharadas. (2018). “Winners Take all: The Elite Charade of Changing the World.” Vintage.
1996
- (Arthur, 1996) ⇒ W Brian Arthur. (1996). “Increasing Returns and the New World of Business.” In: Harvard business review Journal, 74(4).
- QUOTE:Increasing returns are the tendency for that which is ahead to get further ahead and for that which is losing advantage to lose further advantage. If a product gets ahead, increasing returns can magnify the advantage, and the product can go on to lock in the market. Mechanisms of increasing returns exist alongside those of diminishing returns in all industries. But, in general, diminishing returns hold sway in the traditional, resource-processing industries. Increasing returns reign in the newer, knowledge-based industries. Modern economies have split into two interrelated worlds of business corresponding to the two types of returns. The two worlds have different economics.
... Second, where locality is unimportant, network effects can transform competition toward the winner-take-most character we ...
- QUOTE:Increasing returns are the tendency for that which is ahead to get further ahead and for that which is losing advantage to lose further advantage. If a product gets ahead, increasing returns can magnify the advantage, and the product can go on to lock in the market. Mechanisms of increasing returns exist alongside those of diminishing returns in all industries. But, in general, diminishing returns hold sway in the traditional, resource-processing industries. Increasing returns reign in the newer, knowledge-based industries. Modern economies have split into two interrelated worlds of business corresponding to the two types of returns. The two worlds have different economics.