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This paper investigates whether contest schemes induce excessive risk-taking by implementing in the laboratory a novel stopping task based on the contest model of Seel and Strack (2013). In this stylized setting, managers who face contest payoffs have an incentive to delay halting projects with...
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In this paper, I study the impact of asymmetric loss constraints on risk-taking behavior in contests. More precisely, contestants have different maximal loss restrictions in the contest model of Seel and Strack (2013), where players choose when to stop a privately observed Brownian motion and...
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This paper reports data from an ultimatum mini-game in which responders first had to choose whether or not to participate. Participation was costly, but the participation cost was smaller than the minimum payoff that a responder could guarantee himself in the ultimatum game. Compared to a...
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