We provide new experimental evidence which suggests an asymmetric discouragement effect in lottery contests with heterogeneous abilities. Compared to a symmetric contest, subjects invest less effort when facing a stronger opponent, but they invest the same when facing a weaker opponent. Our...

We provide new experimental evidence which suggests an asymmetric discouragement effect in lottery contests with heterogeneous abilities. Compared to a symmetric contest, subjects invest less effort when facing a stronger opponent, but they invest the same when facing a weaker opponent. Our...

We provide new experimental evidence which suggests an asymmetric discouragement effect in lottery contests with heterogeneous abilities. Compared to a symmetric contest, subjects invest less effort when facing a stronger opponent, but they invest the same when facing a weaker opponent. Our...

We provide new experimental evidence which suggests an asymmetric discouragement effect in lottery contests with heterogeneous abilities. Compared to a symmetric contest, subjects invest less effort when facing a stronger opponent, but they invest the same when facing a weaker opponent. Our...

Frequent violations of fair principles in real-life settings raise the fundamental question of whether such principles can guarantee the existence of a self-enforcing equilibrium in a free economy. We show that elementary principles of distributive justice guarantee that a pure-strategy Nash...

Frequent violations of fair principles in real-life settings raise the fundamental question of whether such principles can guarantee the existence of a self-enforcing equilibrium in a free economy. We show that elementary principles of distributive justice guarantee that a pure-strategy Nash...

Social stratification, segregation and inequity invite concerns about fairness and social harmony. Our game-theoretic and experimental results indicate that they can also be detrimental to productivity, efficiency, and welfare. Class is defined by players’ resources, incentives to make a...

In this paper I will analyse the redistribution of income amongst n generations using the Single-mindedness Theory. I will introduce a new expression for the balanced-budget constraint, no longer based on lump- sum transfers as in the traditional literature, but rather on more realistic labour...

In this paper I will analyse the redistribution of income amongst n generations using the Single-mindedness Theory. I will introduce a new expression for the balanced-budget constraint, no longer based on lump- sum transfers as in the traditional literature, but rather on more realistic labour...