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We show that if agents are risk neutral, prizes outperform wages if and only if there is sufficient pride and envy …
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We show that if agents are risk neutral, prizes outperform wages when there is sufficient pride and envy relative to …
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Altruists and envious people who meet in contests are symbionts. They do better than a population of narrowly rational individuals. If there are only altruists and envious individuals, a particular mixture of altruists and envious individuals is evolutionarily stable.
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