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Information feedback and contest structure in rent-seeking games
Fallucchi, Francesco; Renner, Elke; Sefton, Martin - 2012
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/10009618920
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Evolution of consistent conjectures in semi-aggregative representation of games, with applications to public good games and contests
Possajennikov, Alexandre - 2016
contests. …
Persistent link: https://www.econbiz.de/10011504952
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Not all group members are created equal : heterogeneous abilities in inter-group contests
Fallucchi, Francesco; Fatas, Enrique; Kölle, Felix; … - 2018
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/10011872326
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Gift exchange and workers' fairness concerns : when equality is unfair
Abeler, Johannes; Altmann, Steffen; Kube, Sebastian; … - 2009
We study how different payment modes inuence the effectiveness of gift exchange as a contract enforcement device. In particular, we analyze how horizontal fairness concerns affect performance and efficiency in an environment characterized by contractual incompleteness. In our experiment, one...
Persistent link: https://www.econbiz.de/10003854042
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Combining "real effort" with induced effort costs : the ball-catching task
Gächter, Simon; Huang, Lingbo; Sefton, Martin - 2015
We introduce the "ball-catching task", a novel computerized real effort task, which combines "real" efforts with induced material cost of effort. The central feature of the ball-catching task is that it allows researchers to manipulate the cost of effort function as well as the production...
Persistent link: https://www.econbiz.de/10010530634
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Common value allocation mechanisms with private information : lotteries or auctions?
Matros, Alexander; Possajennikov, Alexandre - 2014
We consider mechanisms for allocating a common-value prize between two players in an incomplete information setting. In this setting, each player receives an independent private signal about the prize value. The signals are from a discrete distribution and the value is increasing in both...
Persistent link: https://www.econbiz.de/10010360354
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Dual sourcing with price discovery
Alcalde, José; Dahm, Matthias - 2016
Reverse auctions are considered a fast and inexpensive price discovery tool to award procurement contracts and it is often desirable to award contracts to more than one supplier. We propose a new procurement procedure that is based on a reverse auction. Shares are allocated endogenously,...
Persistent link: https://www.econbiz.de/10011448760
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Reputational concerns in repeated rent-seeking contests
Fallucchi, Francesco; Renner, Elke - 2016
We experimentally investigate how reputational concerns affect behavior in repeated Tullock contests by comparing …
Persistent link: https://www.econbiz.de/10011456852
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Abbink, Klaus (contributor); Brandts, Jordi (contributor) - 2003 - [Elektronische Ressource], rev
Bertrand competition under decreasing returns involves a wide interval of pure strategy equilibrium prices. We first present results of experiments in which two, three and four identical firms repeatedly interact in this environment. Less collusion with more firms leads to lower average prices....
Persistent link: https://www.econbiz.de/10001835606
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Collusion in growing and shrinking markets : empirical evidence from experimental duopolies
Abbink, Klaus (contributor); Brandts, Jordi (contributor) - 2005
We study collusive behaviour in experimental duopolies that compete in prices under dynamic demand conditions. In one treatment the demand grows at a constant rate. In the other treatment the demand declines at another constant rate. The rates are chosen so that the evolution of the demand in...
Persistent link: https://www.econbiz.de/10002626552