Mago, Shakun D.; Sheremeta, Roman; Yates, Andrew - Economic Science Institute (ESI), Argyros School of … - 2010
We conduct an experimental analysis of a best-of-three Tullock 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...