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Competition between groups is ubiquitous in social and economic life, and groups are typically not created equal. Here we experimentally investigate the implications of this general observation on the unfolding of symmetric and asymmetric competition between groups that are either homogeneous or...
Persistent link: https://www.econbiz.de/10012029784
time. Our results suggest that agents' heterogeneity is a major determinant for the predominance of star-like structures in …
Persistent link: https://www.econbiz.de/10010267578
the variation in others' contributions, but with pronounced heterogeneity in individuals' reactions. While the majority of …
Persistent link: https://www.econbiz.de/10011444294
We develop a general framework to study contests, containing the well-known models of Tullock (1980) and Lazear & Rosen (1981) as special cases. The contest outcome depends on players' effort and skill, the latter being subject to symmetric uncertainty. The model is tractable, because a...
Persistent link: https://www.econbiz.de/10012179792
We develop a general framework to study contests, containing the well-known models of Tullock (1980) and Lazear & Rosen (1981) as special cases. The contest outcome depends on players' effort and skill, the latter being subject to symmetric uncertainty. The model is tractable, because a...
Persistent link: https://www.econbiz.de/10012287889
We develop a general framework for studying contests, including the well-known models of Tullock(1980) and Lazear & Rosen (1981) as special cases. The contest outcome depends on playersâ efforts and skills, the latter being subject to symmetric uncertainty. The model is tractable, because...
Persistent link: https://www.econbiz.de/10012290544
In competitive settings, disparities in player strength are common. It is intuitively unclear whether a stronger player would opt for larger or smaller effort compared to weaker players. Larger effort could leverage their strength, while lower effort might be justified by their higher...
Persistent link: https://www.econbiz.de/10014513233
This paper investigates how heterogeneity in contestants' investment costs affects the competition intensity in a …
Persistent link: https://www.econbiz.de/10010397145
Contest or auction designers who want to maximize the overall revenue are frequently concerned with a trade-off between contest homogeneity and inclusion of bidders with high valuations. In our experimental study, we find that it is not profitable to exclude the most able bidder in favor of...
Persistent link: https://www.econbiz.de/10010397878
This paper shows that incomplete information and sufficient heterogeneity of players can ensure uniqueness in … opponents is non-decreasing in its signal. Secondly, a contraction mapping argument shows that sufficient heterogeneity ensures …
Persistent link: https://www.econbiz.de/10010494293