ELI5: Explain Like I'm 5

Tullock's spike

Tullock's spike is a term used to describe a phenomenon where a small increase in competition results in a much larger increase in effort by all competitors. Think of it like a race: if you're running a race by yourself, you might only push yourself to run at, say, 80% of your full capacity. But if you were racing against someone else who was also running at 80%, you might feel the need to push yourself harder to be the winner. This is what's called Tullock's spike: the small increase in competition (in this case, racing against someone else) causes a much larger increase in effort (pushing yourself to run faster).

Another way to understand Tullock's spike is to imagine two people playing a game of catch. If they're just passing the ball back and forth, they might not throw the ball very hard or very accurately. But if they start trying to throw the ball faster and more accurately than the other person, they'll likely end up making increasingly better and more precise throws as they try to outdo each other.

Tullock's spike has been observed in a variety of scenarios, from sports to economics. It's important to note that while this phenomenon can lead to increased effort and better outcomes, there is also a risk of intensifying the competition to the point of harmful behaviors, such as cheating or aggression.