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than purely self-interested agents for a given prize structure. Contrary to standard tournament theory first-best efforts …
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We propose experiments in virtual reality (VR) as a new approach to examining behavior in an economic context, e.g., heterogeneity in dynamic tournaments. We simulate a realistic working situation in a highly immersive environment. Implementing a tournament in VR, we are able to mitigate the...
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A main prediction of agency theory is the well known risk-incentive trade-off. Incentive contracts should be found in …
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