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We study the following game: each agent i chooses a lottery over nonnegative numbers whose expectation is equal to his budget b_i. The agent with the highest realized outcome wins (and agents only care about winning). This game is motivated by various real-world settings where agents each choose...
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of winning and losing in a competition on the willingness to seek further challenges. Participants in a lab experiment … compete in two-person tournaments and are then informed of their score and the outcome of the competition. Conditional on the …
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of winning and losing in a competition on the willingness to seek further challenges. Participants in a lab experiment … compete in two-person tournaments and are then informed of their score and the outcome of the competition. Conditional on the …
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