We report on two experiments that identify non-monetary incentive effects of competition. As the number of competitors …-monetary incentive effects of competition going in the opposite direction. In the experiments we change the number of competitors … comparisons as one potential mechanism for this effect. It shows that competition turns the effort decisions of competing managers …

and competition on the product market. Product innovation is assumed to increase consumer utility but is effective only if … market. In the final stage of the game, they are involved in competition on the product market. Key findings of the …