Intention-based fairness preferences in two-player contests

We analyze equilibria of two-player contests where players have intention-based preferences. We find that players invest more effort compared to the case with selfish preferences and are even willing to exert effort when the monetary value of the prize converges to zero. As a consequence, overdissipation occurs if the value of the prize is sufficiently small.

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Year of publication:	2013
Authors:	Hoffmann, Magnus ; Kolmar, Martin
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 120.2013, 2, p. 276-279
Publisher:	Elsevier
Subject:	Contests \| Intention-based fairness preferences \| Overdissipation \| Overspending \| Joy of winning

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Type of publication:	Article
Classification:	D03 - Behavioral Economics; Underlying Principles ; D72 - Economic Models of Political Processes: Rent-Seeking, Elections, Legistures, and Voting Behavior ; D74 - Conflict; Conflict Resolution; Alliances
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010678811