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Envy and Loss Aversion in Tournaments

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  • Gerald Eisenkopf
  • Sabrina Teyssier
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    Abstract

    In tournaments, the large variance in effort provision is incompatible with standard economic theory. In our experiment we test theoretical predictions about the role of envy and loss aversion in tournaments. Our results confirm that envy implies higher effort while loss aversion increases the variance of effort. Moreover, we show that standard theory provides a good explanation for competitive behavior when envy and loss aversion do not play a role in the decision making process.

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    Bibliographic Info

    Paper provided by Thurgauer Wirtschaftsinstitut, Universität Konstanz in its series TWI Research Paper Series with number 52.

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    Date of creation: 2010
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    Handle: RePEc:twi:respas:0052

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    Keywords: Tournament; Envy; Loss Aversion;

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    1. Envy and Loss Aversion in Tournaments
      by Miguel in Simoleon Sense on 2010-07-15 23:05:35
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    Cited by:
    1. David, Gill & Rebecca, Stone, 2012. "Desert and inequity aversion in teams," MPRA Paper 36864, University Library of Munich, Germany.
    2. David Gill & Rebecca Stone, 2011. "Desert and Inequity Aversion in Teams," Economics Series Working Papers 563, University of Oxford, Department of Economics.

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