Showing 1 - 10 of 43
Many economic, political and social environments can be described as contests in which agents exert costly efforts … while competing over the distribution of a scarce resource. These environments have been studied using Tullock contests, all …-pay auctions and rankorder tournaments. This survey provides a review of experimental research on these three canonical contests …
Persistent link: https://www.econbiz.de/10010311082
experimental rent-seeking contests. Although, as we show, existing evidence of excessive rent-seeking is in theory compatible with …
Persistent link: https://www.econbiz.de/10010277465
This paper investigates mechanisms for the private provision of a public good which utilize competition to incentivize contributions. Theory predicts that 'all-pay' competition is particularly effective for fundraising. Within this class of mechanisms different types of lotteries and all-pay...
Persistent link: https://www.econbiz.de/10010277471
deterministic contests average expenditures converge to equilibrium levels when subjects only get feedback about own earnings, and … additional feedback about rivals' choices and earnings raises average expenditures. In stochastic contests information feedback …
Persistent link: https://www.econbiz.de/10010392399
very different effects depending on the contest structure. We observe the highest rent dissipation in stochastic contests … when players only get feedback on own choices and earnings. In these contests aggregate expenditures usually exceed the …. In contrast, in deterministic contests average expenditures converge to equilibrium levels when subjects only get …
Persistent link: https://www.econbiz.de/10010392436
Contest or auction designers who want to maximize the overall revenue are frequently concerned with a trade-off between contest homogeneity and inclusion of bidders with high valuations. In our experimental study, we find that it is not profitable to exclude the most able bidder in favor of...
Persistent link: https://www.econbiz.de/10010397878
success of the group. Our main finding is that, in contrast with a number of theoretical predictions, efforts in contests … involving heterogeneous groups are higher than in contests involving only homogeneous groups, leading to reduced earnings (to … contest participants) and increased inequality. This effect is particularly pronounced in asymmetric contests, where both …
Persistent link: https://www.econbiz.de/10012029784
We experimentally investigate how reputational concerns affect behavior in repeated Tullock contests by comparing …
Persistent link: https://www.econbiz.de/10011688530
We report the results of laboratory experiments on rent-seeking contests with endogenous participation. Theory predicts …
Persistent link: https://www.econbiz.de/10010277512
Contest or auction designers who want to maximize the overall revenue are frequently concerned with a trade-off between contest homogeneity and inclusion of contestants with high valuations. In our experimental study, we find that it is not profitable to exclude the most able contestant in favor...
Persistent link: https://www.econbiz.de/10010281542