-stage) elimination contests. Theoretical results show that, for risk-neutral participants, a structure with a single prize for the winner …-takes-all contest in both dimensions if participants are risk-averse. Evidence from laboratory experiments is largely consistent with … these predictions, suggesting that contest design should account for risk attitudes of participants. …

We investigate how individual risk preferences affect the likelihood of selecting the more able contestant within a two …-player Tullock contest. Our theoretical model yields two main predictions: First, an increase in the risk aversion of a player … less able but less risk averse contestant can achieve an equal or even higher probability of winning than a more able but …

We investigate how individual risk preferences affect the likelihood of selecting the more able contestant within a two …-player Tullock contest. Our theoretical model yields two main predictions: First, an increase in the risk aversion of a player … less able but less risk averse contestant can achieve an equal or even higher probability of winning than a more able but …

given a large per-experiment endowment rather than when the endowment is given per-period. Risk-aversion and non …

quantal response equilibrium. We also find that less risk-averse subjects over-dissipate more …

rationality which we call quasi-rationality. Pricing decisions are particularly close to equilibrium values. Although we do find …