Brandts, Jordi; Riedl, Arno; Winden, Frans A.A.M. van - C.E.P.R. Discussion Papers - 2006
This paper experimentally studies the effects of competition in an environment where people's actions can not be … contractually fixed. We find that, in comparison with no competition, the presence of competition does neither increase efficiency … nor does it yield any gains in earnings for the short side of the exchange relation. Moreover, competition has a clearly …