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A contest is a situation in which individuals or groups expend costly resources while competing to win a specific prize. The variety of economic situations that can be described as contests has attracted enormous attention from economic theorists. Despite the extensive theoretical research of...
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We design an experiment to explore the impact of earned entitlements on the frequency and intensity of conflicts in a two-stage conflict game where players may attempt to use non-binding side-payments to avoid conflict. In this game, Proposers make offers and Responders decide simultaneously...
Persistent link: https://www.econbiz.de/10011260731
Many economic, political and social environments can be described as contests in which agents exert costly efforts while competing over the distribution of a scarce resource. These environments have been studied using Tullock contests, all-pay auctions and rank-order tournaments. This survey...
Persistent link: https://www.econbiz.de/10010575500
Commitment problems are inherent to non-binding conflict resolution mechanisms, since an unsatisfied party can ignore the resolution and initiate conflict. We provide experimental evidence suggesting that even in the absence of binding contractual agreements individuals often avoid conflict by...
Persistent link: https://www.econbiz.de/10011123534
Standard theoretical prediction is that rational economic agents participating in rent-seeking contests should engage in socially inefficient behavior by exerting costly efforts. Experimental studies find that the actual efforts of participants are significantly higher than predicted and that...
Persistent link: https://www.econbiz.de/10011109372
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/10011111074
Many economic, political and social environments can be described as contests in which agents exert costly efforts while competing over the distribution of a scarce resource. These environments have been studied using Tullock contests, all-pay auctions and rank-order tournaments. This survey...
Persistent link: https://www.econbiz.de/10011111456