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find that groups learn to make lower bids from communication and negotiation between group members. …
Persistent link: https://www.econbiz.de/10008556045
, we find that groups learn to make lower bids from communication and negotiation between group members. …
Persistent link: https://www.econbiz.de/10008528454
find that groups learn to make lower bids from communication and negotiation between group members …
Persistent link: https://www.econbiz.de/10014186327
Group contests are ubiquitous. Some examples include warfare between countries, competition between political parties, team-incentives within firms, group sports, and rent-seeking. In order to succeed, members of the same group have incentives to cooperate with each other by expending individual...
Persistent link: https://www.econbiz.de/10013013877
Tug-of-war is a multi-battle contest often used to describe extended interactions in economics, management, political science, and other disciplines. While there has been some theoretical work, there is scant empirical evidence regarding behavior in a tug-of-war game. To the best of our...
Persistent link: https://www.econbiz.de/10013015720
We study how giving depends on income and luck, and how culture and information about the determinants of others' income affect this relationship. Our data come from an experiment conducted in two countries, the US and Spain – each of which have different beliefs about how income inequality...
Persistent link: https://www.econbiz.de/10012937217
Many economic interactions rely on trust, which is sometimes violated. The fallout from business fraud and other malfeasance shows serious economic consequences of trust violations. Simple rules mandating minimum standards are attractive because they prevent the most egregious trust violations....
Persistent link: https://www.econbiz.de/10012975782
We provide an overview of experimental literature on contests and point out the two main phenomena observed in most 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...
Persistent link: https://www.econbiz.de/10010817423
We provide an overview of experimental literature on lottery contests and point out the two main phenomena observed in most contest experiments: overbidding relative to the standard Nash equilibrium prediction and heterogeneous behavior of ex-ante symmetric contestants. Based on the sample of...
Persistent link: https://www.econbiz.de/10014162119
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/10014143382