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Overbidding and Heterogeneous Behavior in Contest Experiments

Sheremeta, Roman M. - 2013

We provide an overview of experimental literature on contests and point out the two main phenomena observed in most contest experiments: (i) overbidding relative to the standard Nash equilibrium prediction and (ii) heterogeneous behavior of ex ante symmetric contestants. Based on the sample of...

Persistent link: https://www.econbiz.de/10014157322

Overbidding and Heterogeneous Behavior in Contest Experiments

Sheremeta, Roman M. - 2013

We provide an overview of experimental literature on lottery contests and point out the two main phenomena observed in most contest experiments: overbidding relative to the standard Nash equilibrium prediction and heterogeneous behavior of ex-ante symmetric contestants. Based on the sample of...

Persistent link: https://www.econbiz.de/10014162119