Showing 1 - 10 of 38
one of the two states. We elicit subjects’ beliefs, risk and other-regarding preferences. Our design also allows us to … subject’s own behavior in the other role. The results of the experiment indicate that, when acting as senders, the majority of … receivers cannot be explained by risk preferences or as a best response to subject’s own behavior in the sender’s role. However …
Persistent link: https://www.econbiz.de/10011259082
Despite normative predictions from economics and biology, unrelated strangers will often develop the trust necessary to reap gains from one-shot economic exchange opportunities. This appears to be especially true when declared intentions and emotions can be cheaply communicated. Perhaps even...
Persistent link: https://www.econbiz.de/10011111225
This study reports an experiment that examines whether groups can better comply with theoretical predictions than … individuals in contests. Our experiment replicates previous findings that individual players significantly overbid relative to … individual players. The new findings of our experiment are that groups make 25% lower bids, their bids have lower variance, and …
Persistent link: https://www.econbiz.de/10011113095
first stage but not in the second stage. Our experiment provides evidence that winning is a component in a subject’s utility …
Persistent link: https://www.econbiz.de/10011258638
potentially divisible resource. We design an experiment to compare individuals’ decisions across three resource allocation … contests which are isomorphic under risk-neutrality. The results indicate that in aggregate the single-prize contest generates …-prize contest. We also elicit preferences toward risk, ambiguity and losses, and find that while such preferences cannot explain …
Persistent link: https://www.econbiz.de/10011259038
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
We conduct an experimental analysis of a best-of-three contest. Intermediate prizes lead to higher efforts, while increasing the role of luck (as opposed to effort) leads to lower efforts. Both intermediate prizes and luck reduce the probability of contest ending in two rounds. The patterns of...
Persistent link: https://www.econbiz.de/10011259589
This laboratory experiment studies two-stage contests between political parties. In the first stage, parties run their …
Persistent link: https://www.econbiz.de/10011259661
This paper examines theory and behavior in a two-player game of siege, sequential attack and defense. The attacker’s objective is to successfully win at least one battle while the defender’s objective is to win every battle. Theoretically, the defender either folds immediately or, if his...
Persistent link: https://www.econbiz.de/10011259918