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Overbidding And Heterogeneous Behavior In Contest Experiments: A Comment On The Endowment Effect

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  • Subhasish M. Chowdhury
  • Peter G. Moffatt

Abstract

We revisit the meta-analysis of Sheremeta (2013) on overbidding in contest experiments and focus on the effect of endowment on overbidding. Whereas Sheremeta (2013) assumes that there is a monotonic relationship between endowment and overbidding in his meta-analysis, Baik et al. (2014) find an inverted-U shaped relationship in the analysis of a single experiment. We use the same data as in Sheremeta (2013), but employ a different econometric model which leads to support for the inverted-U shaped relationship. Following Baik et al. (2014) we explain the result in terms of a wealth effect.
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Suggested Citation

  • Subhasish M. Chowdhury & Peter G. Moffatt, 2017. "Overbidding And Heterogeneous Behavior In Contest Experiments: A Comment On The Endowment Effect," Journal of Economic Surveys, Wiley Blackwell, vol. 31(2), pages 572-576, April.
    • Handle: RePEc:bla:jecsur:v:31:y:2017:i:2:p:572-576
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    File URL: http://hdl.handle.net/10.1111/joes.2017.31.issue-2
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    Cited by:

    1. Bhattacharya, Puja & Rampal, Jeevant, 2024. "Contests within and between groups: Theory and experiment," Games and Economic Behavior, Elsevier, vol. 145(C), pages 467-492.
    2. Kyung Hwan Baik & Subhasish M. Chowdhury & Abhijit Ramalingam, 2020. "The effects of conflict budget on the intensity of conflict: an experimental investigation," Experimental Economics, Springer;Economic Science Association, vol. 23(1), pages 240-258, March.
    3. Kölle, Felix, 2022. "Governance and competition," European Economic Review, Elsevier, vol. 148(C).
    4. Chowdhury, Subhasish M. & Marini, Matteo M., 2024. "Overbidding and heterogeneous behavior in contest experiments:A meta-comment on cross-cultural differences," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 110(C).

    More about this item

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior

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