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Equity and effectiveness of optimal taxation in contests under an all-pay auction

Mealem, Yosef; Nitsan, Shemuʾel - 2012

The means of contest design may include differential taxation of the prize. This paper establishes that, given a revenue-maximizing contest designer who faces a balanced-budget constraint, the optimal taxation scheme corresponding to an all-pay auction is appealing in two senses. First, it...

Persistent link: https://www.econbiz.de/10009488961

Consuming your way to efficiency : public goods provision through non-distortionary tax lotteries

Giebe, Thomas; Schweinzer, Paul - 2013

We revisit the classical result that financing a pure public good through taxation of private consumption is inefficient. To this standard setup we add a consumption contest in which consumers can win a prize. We show that an appropriately chosen contest - which we call a 'tax lottery' - can...

Persistent link: https://www.econbiz.de/10009742905

Gambling to leapfrog in status?

Friehe, Tim; Mechtel, Mario - 2013

This paper shows that households with positional concerns and convex status utility use gambling to attempt … results strongly indicate that households who care about status are more likely to participate in gambling and invest more in … gambling, while they save less. In addition, results regarding socio-economic and demographic characteristics are reported. For …

Persistent link: https://www.econbiz.de/10009724024

On the efficient provision of public goods by means of lotteries

Franke, Jörg; Leininger, Wolfgang - 2013

We provide a solution to the free-rider problem in the provision of a public good. To this end we define a biased indirect contribution game which provides the efficient amount of the public good in non-cooperative Nash equilibrium. No confiscatory taxes or other means of coercion are used. We...

Persistent link: https://www.econbiz.de/10009706153

Lattices and lotteries in apportioning risk

Schlesinger, Harris - 2014

Eeckhoudt and Schlesinger (2006), based upon simple lottery preference. This article show how the mathematics of lattice theory …

Persistent link: https://www.econbiz.de/10010431278

Conflicts with multiple battlefields

Kovenock, Daniel J.; Roberson, Brian - 2010

This paper examines conflicts in which performance is measured by the players' success or failure in multiple component conflicts, commonly termed "battlefields". In multi-battlefield conflicts, behavioral linkages across battlefields depend both on the technologies of conflict within each...

Persistent link: https://www.econbiz.de/10008696768

Risk aversion and the subjective time discount rate : a joint approach

Praag, Bernard M. S. van; Booij, Adam S. - 2003

In this paper we analyze a large sample of individual responses to six lottery questions. We derive a simultaneous estimate of risk aversion and the time preference discount rate per individual. This can be done because the consumption of a large prize is smoothed over a larger time period. It...

Persistent link: https://www.econbiz.de/10011507761

Willingness-to-pay and willingness-to-accept are probably less correlated than you think

Chapman, Jonathan; Ortoleva, Pietro; Snowberg, Erik; … - 2017

, such as Prospect Theory and Stochastic Reference Dependence, only under very specific, and unlikely, correlational …

Persistent link: https://www.econbiz.de/10011658031

Counter intuitive learning : an exploratory study

Hanaki, Nobuyuki; Kirman, Alan P.; Pezanis-Christou, Paul - 2016

The literature on learning in unknown environments emphasises reinforcing on actions which produce positive results. But, in some cases, success requires shifting from a currently successful actions to others. We examine, experimentally and theoretically in a very simple framework, how...

Persistent link: https://www.econbiz.de/10011517970

Betting market efficiency in the presence of unfamiliar shocks : the case of ghost games during the COVID-19 pandemic

Fischer, Kai; Haucap, Justus - 2020

Betting markets have been frequently used as a natural laboratory to test the efficient market hypothesis and to obtain insights especially for financial markets. We add to this literature in analyzing the velocity and accuracy in which market expectations adapt to an exogenous shock: the...

Persistent link: https://www.econbiz.de/10012271737