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A contest is a situation in which individuals or groups expend costly resources while competing to win a specific prize. The variety of economic situations that can be described as contests has attracted enormous attention from economic theorists. Despite the extensive theoretical research of...
Persistent link: https://www.econbiz.de/10011259262
We experimentally investigate the effect of social identification and information feedback on individual behavior in contests. In all treatments we find significant over-expenditure of effort relative to the standard theoretical predictions. Identifying subjects through photo display decreases...
Persistent link: https://www.econbiz.de/10011259314
using laboratory experiments. A purely rational choice perspective of a simple voting environment implies that information …
Persistent link: https://www.econbiz.de/10011259528
We design an experiment to explore the impact of earned entitlements on the frequency and intensity of conflicts in a two-stage conflict game where players may attempt to use non-binding side-payments to avoid conflict. In this game, Proposers make offers and Responders decide simultaneously...
Persistent link: https://www.econbiz.de/10011260731
This paper addresses the interaction of voter information and seniority on electoral accountability. We test whether information leads voters to be less tolerant of moral hazard in a legislative system favoring seniority. A simple game theoretic model is used to predict outcomes in a pork-barrel...
Persistent link: https://www.econbiz.de/10009295260
Commitment problems are inherent to non-binding conflict resolution mechanisms, since an unsatisfied party can ignore the resolution and initiate conflict. We provide experimental evidence suggesting that even in the absence of binding contractual agreements individuals often avoid conflict by...
Persistent link: https://www.econbiz.de/10011123534
Standard theoretical prediction is that rational economic agents participating in rent-seeking contests should engage in socially inefficient behavior by exerting costly efforts. Experimental studies find that the actual efforts of participants are significantly higher than predicted and that...
Persistent link: https://www.econbiz.de/10011109372
The standard theoretical description of rent-seeking contests is that of rational individuals or groups engaging in socially inefficient behavior by exerting costly effort. Experimental studies find that the actual efforts of participants are significantly higher than predicted in the models...
Persistent link: https://www.econbiz.de/10011111074
contest experiments: (i) overbidding relative to the standard Nash equilibrium prediction and (ii) heterogeneous behavior of … ex-ante symmetric contestants. Based on the sample of contest experiments that we review, the median overbidding rate is …
Persistent link: https://www.econbiz.de/10011111684
non-binding, proposers offer nothing and conflicts always arise. Laboratory experiments confirm that binding side …
Persistent link: https://www.econbiz.de/10011112071