The +
needs to be escaped in vim regular expressions.
:%s/\<\(\w\+\)\>\s\1/\1/g
You can reduce the amount of escaping by enabling magic mode with the \v
switch.
:%s/\v<(\w+)>\s\1/\1/g
Magic alters the syntax of vim regular expressions quite a bit. Be sure to read the documentation. Especially in longer, meta-character-ladden regexes it can improve length and readability, though.