IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Overbidding and Heterogeneous Behavior in Contest Experiments

  • Sheremeta, Roman

We provide an overview of experimental literature on contests and point out the two main phenomena observed in most contest experiments: (i) overbidding relative to the standard Nash equilibrium prediction and (ii) heterogeneous behavior of ex-ante symmetric contestants. Based on the sample of contest experiments that we review, the median overbidding rate is 72%. We provide different explanations for the overbidding phenomenon, including bounded rationality, utility of winning, other-regarding preferences, probability distortion, and the shape of the payoff function. We also provide explanations for heterogeneous behavior of contestants based on differences in preferences towards winning, inequality, risk and losses, and demographic differences. Furthermore, we suggest mechanisms that can reduce overbidding and induce more homogeneous behavior. Finally, we discuss directions for future research.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://mpra.ub.uni-muenchen.de/44124/1/MPRA_paper_44124.pdf
File Function: original version
Download Restriction: no

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 44124.

as
in new window

Length:
Date of creation: 25 Jan 2013
Date of revision:
Handle: RePEc:pra:mprapa:44124
Contact details of provider: Postal: Schackstr. 4, D-80539 Munich, Germany
Phone: +49-(0)89-2180-2219
Fax: +49-(0)89-2180-3900
Web page: http://mpra.ub.uni-muenchen.de

More information through EDIRC

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Edward P. Lazear, 2000. "Performance Pay and Productivity," American Economic Review, American Economic Association, vol. 90(5), pages 1346-1361, December.
  2. Eyal Baharad & Shmuel Nitzan, 2008. "Contest Efforts in Light of Behavioural Considerations," Economic Journal, Royal Economic Society, vol. 118(533), pages 2047-2059, November.
  3. Craig E. Landry & Andreas Lange & John A. List & Michael K. Price & Nicholas G. Rupp, 2006. "Toward an Understanding of the Economics of Charity: Evidence from a Field Experiment," The Quarterly Journal of Economics, MIT Press, vol. 121(2), pages 747-782, May.
  4. Timothy N. Cason & William A. Masters & Roman M. Sheremeta, 2010. "Entry Into Winner-Take-All And Proportional-Prize Contests:An Experimental Study," Purdue University Economics Working Papers 1231, Purdue University, Department of Economics.
  5. Lugovskyy, Volodymyr & Puzzello, Daniela & Tucker, Steven, 2008. "An experimental investigation of overdissipation in the all pay auction," MPRA Paper 8604, University Library of Munich, Germany.
  6. Arye L. Hillman & John G. Riley, 1987. "Politically Contestable Rents and Transfers," UCLA Economics Working Papers 452, UCLA Department of Economics.
  7. Ham, John C. & Kagel, John H., 2006. "Gender effects in private value auctions," Economics Letters, Elsevier, vol. 92(3), pages 375-382, September.
  8. Dan Kovenock & Brian Roberson & Roman M. Sheremeta, 2010. "The Attack and Defense of Weakest-Link Networks," Purdue University Economics Working Papers 1256, Purdue University, Department of Economics.
  9. Young Park & Luís Santos-Pinto, 2010. "Overconfidence in tournaments: evidence from the field," Theory and Decision, Springer, vol. 69(1), pages 143-166, July.
  10. Noussair, Charles & Silver, Jonathon, 2006. "Behavior in all-pay auctions with incomplete information," Games and Economic Behavior, Elsevier, vol. 55(1), pages 189-206, April.
  11. Edward P. Lazear & Sherwin Rosen, 1979. "Rank-Order Tournaments as Optimum Labor Contracts," NBER Working Papers 0401, National Bureau of Economic Research, Inc.
  12. Stefan Szymanski, 2003. "The Economic Design of Sporting Contests," Journal of Economic Literature, American Economic Association, vol. 41(4), pages 1137-1187, December.
  13. Eric Schniter & Roman M. Sheremeta & Daniel Sznycer, 2012. "Building and Rebuilding Trust with Promises and Apologies," Working Papers 12-19, Chapman University, Economic Science Institute.
  14. J. Atsu Amegashie & Marco Runkel, 2008. "The Paradoxes of Revenge in Conflicts," CESifo Working Paper Series 2261, CESifo Group Munich.
  15. John Cadigan & Pamela Schmitt & Kurtis Swope & Robert Shupp, 2004. "Multi-Period Rent-Seeking Contests with Carryover: Theory and Experimental Evidence," Departmental Working Papers 5, United States Naval Academy Department of Economics.
  16. Subhasish Chowdhury & Dan Kovenock & Roman Sheremeta, 2013. "An experimental investigation of Colonel Blotto games," Economic Theory, Springer, vol. 52(3), pages 833-861, April.
  17. David Schmidt & Robert Shupp & James M. Walker, 2005. "Resource Allocation Contests: Experimental Evidence," Caepr Working Papers 2006-004, Center for Applied Economics and Policy Research, Economics Department, Indiana University Bloomington, revised Aug 2006.
  18. Tor Eriksson & Sabrina Teyssier & Marie-Claire Villeval, 2006. "Self-Selection and the Efficiency of Tournaments," Working Papers 0603, Groupe d'Analyse et de Théorie Economique (GATE), Centre national de la recherche scientifique (CNRS), Université Lyon 2, Ecole Normale Supérieure.
  19. Emmanuel Dechenaux & Dan Kovenock & Roman Sheremeta, 2012. "A Survey of Experimental Research on Contests, All-Pay Auctions and Tournaments," Working Papers 12-22, Chapman University, Economic Science Institute.
  20. Jack Hirshleifer & John G. Riley, 1978. "Elements of the Theory of Auctions and Contests," UCLA Economics Working Papers 118, UCLA Department of Economics.
  21. Bull, Clive & Schotter, Andrew & Weigelt, Keith, 1987. "Tournaments and Piece Rates: An Experimental Study," Journal of Political Economy, University of Chicago Press, vol. 95(1), pages 1-33, February.
  22. Wieland Müller & Andrew Schotter, 2010. "Workaholics and Dropouts in Organizations," Journal of the European Economic Association, MIT Press, vol. 8(4), pages 717-743, 06.
  23. Roman M. Sheremeta & Jingjing Zhang, 2009. "Can Groups Solve the Problem of Over-Bidding in Contests," Working Papers 09-09, Chapman University, Economic Science Institute.
  24. Edward Millner & Michael Pratt, 1989. "An experimental investigation of efficient rent-seeking," Public Choice, Springer, vol. 62(2), pages 139-151, August.
  25. Thomas Riechmann, 2007. "An analysis of rent-seeking games with relative-payoff maximizers," Public Choice, Springer, vol. 133(1), pages 147-155, October.
  26. Lugovskyy, Volodymyr & Puzzello, Daniela & Tucker, Steven, 2010. "An experimental investigation of overdissipation in the all pay auction," European Economic Review, Elsevier, vol. 54(8), pages 974-997, November.
  27. Shupp, Robert & Sheremeta, Roman, 2013. "Resource Allocation Contests: Experimental Evidence," MPRA Paper 49889, University Library of Munich, Germany.
  28. repec:ner:tilbur:urn:nbn:nl:ui:12-79319 is not listed on IDEAS
  29. Morgan, John & Sefton, Martin, 2000. "Funding Public Goods with Lotteries: Experimental Evidence," Review of Economic Studies, Wiley Blackwell, vol. 67(4), pages 785-810, October.
  30. Lex Borghans & Angela Lee Duckworth & James J. Heckman & Bas ter Weel, 2008. "The Economics and Psychology of Personality Traits," Journal of Human Resources, University of Wisconsin Press, vol. 43(4).
  31. R. McKelvey & T. Palfrey, 2010. "Quantal Response Equilibria for Normal Form Games," Levine's Working Paper Archive 510, David K. Levine.
  32. Bull, Clive & Schotter, Andrew & Weigelt, Keith, 1987. "Asymmetric Tournaments, Equal Opportunity Laws and Affirmative Action: Some Experimental Results," Working Papers 87-33, C.V. Starr Center for Applied Economics, New York University.
  33. Maria Giovanna Devetag & Massimo Warglien, 2002. "Games and phone numbers: do short term memory bounds affect strategic behavior?," CEEL Working Papers 0211, Cognitive and Experimental Economics Laboratory, Department of Economics, University of Trento, Italia.
  34. Shakun D. Mago & Roman M. Sheremeta & Andrew Yates, 2012. "Best-of-Three Contest Experiments: Strategic versus Psychological Momentum," Working Papers 12-30, Chapman University, Economic Science Institute.
  35. Subhasish M. Chowdhury & Roman M. Sheremeta, 2010. "Multiple Equilibria in Tullock Contests," University of East Anglia Applied and Financial Economics Working Paper Series 014, School of Economics, University of East Anglia, Norwich, UK..
  36. Fonseca, Miguel A., 2009. "An experimental investigation of asymmetric contests," International Journal of Industrial Organization, Elsevier, vol. 27(5), pages 582-591, September.
  37. Roman M. Sheremeta, 2009. "Contest Design: An Experimental Investigation," Working Papers 09-05, Chapman University, Economic Science Institute.
  38. David Gill & Victoria Prowse, 2011. "A Structural Analysis of Disappointment Aversion in a Real Effort Competition," Discussion Papers 2011001, University of Oxford, Nuffield College.
  39. Stein, William E, 2002. " Asymmetric Rent-Seeking with More Than Two Contestants," Public Choice, Springer, vol. 113(3-4), pages 325-36, December.
  40. Anya C. Savikhin & Roman M. Sheremeta, 2013. "Simultaneous Decision-Making In Competitive And Cooperative Environments," Economic Inquiry, Western Economic Association International, vol. 51(2), pages 1311-1323, 04.
  41. Cary Deck & Roman M. Sheremeta, 2012. "Fight or Flight?," Journal of Conflict Resolution, Peace Science Society (International), vol. 56(6), pages 1069-1088, December.
  42. Mago, Shakun & Sheremeta, Roman & Yates, Andrew, 2012. "Best-of-Three Contest Experiments: Strategic versus Psychological Momentum," MPRA Paper 43031, University Library of Munich, Germany.
  43. Konrad, Kai A., 2009. "Strategy and Dynamics in Contests," OUP Catalogue, Oxford University Press, number 9780199549603, March.
  44. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-91, March.
  45. Timothy N. Cason & Roman M. Sheremeta & Jingjing Zhang, 2010. "Communication and efficiency in competitive coordination games," IEW - Working Papers 505, Institute for Empirical Research in Economics - University of Zurich, revised Feb 2012.
  46. Klaus Abbink & Jordi Brandts & Benedikt Herrmann & Henrik Orzen, 2007. "Inter-Group Conflict and Intra-Group Punishment in an Experimental Contest Game," Discussion Papers 2007-15, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
  47. Loukas Balafoutas & Rudolf Kerschbamer & Matthias Sutter, 2011. "Distributional Preferences and Competitive Behavior," Working Papers 2011-04, Faculty of Economics and Statistics, University of Innsbruck.
  48. Burks, Stephen V. & Carpenter, Jeffrey P. & Götte, Lorenz & Rustichini, Aldo, 2008. "Cognitive Skills Explain Economic Preferences, Strategic Behavior, and Job Attachment," IZA Discussion Papers 3609, Institute for the Study of Labor (IZA).
  49. John Morgan & Henrik Orzen & Martin Sefton, 2008. "Endogenous Entry in Contests," Discussion Papers 2008-08, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
  50. Muriel Niederle & Lise Vesterlund, 2005. "Do Women Shy Away from Competition? Do Men Compete too Much?," Discussion Papers 04-030, Stanford Institute for Economic Policy Research.
  51. Cason, Timothy & Sheremeta, Roman & Zhang, Jingjing, 2012. "Communication and Efficiency in Competitive Coordination Games," MPRA Paper 52107, University Library of Munich, Germany.
  52. Shakun D. Mago & Roman Sheremeta & Andrew Yates, 2010. "Best-of-Three Contests: Experimental Evidence," Working Papers 10-24, Chapman University, Economic Science Institute.
  53. Mago, Shakun & Samak, Anya & Sheremeta, Roman, 2013. "Facing Your Opponents: Social Identification and Information Feedback in Contests," MPRA Paper 47029, University Library of Munich, Germany.
  54. Davis, Douglas D & Reilly, Robert J, 1998. " Do Too Many Cooks Always Spoil the Stew? An Experimental Analysis of Rent-Seeking and the Role of a Strategic Buyer," Public Choice, Springer, vol. 95(1-2), pages 89-115, April.
  55. Szidarovszky, Ferenc & Okuguchi, Koji, 1997. "On the Existence and Uniqueness of Pure Nash Equilibrium in Rent-Seeking Games," Games and Economic Behavior, Elsevier, vol. 18(1), pages 135-140, January.
  56. Marco Faravelli & Luca Stanca, 2010. "When Less is More: Rationing and Rent Dissipation in Stochastic Contests," Discussion Papers Series 412, School of Economics, University of Queensland, Australia.
  57. Chowdhury, Subhasish & Kovenock, Dan & Sheremeta, Roman, 2011. "An Experimental Investigation of Colonel Blotto Games," MPRA Paper 46810, University Library of Munich, Germany.
  58. Gill, David & Stone, Rebecca, 2009. "Fairness and desert in tournaments," Discussion Paper Series In Economics And Econometrics 0903, Economics Division, School of Social Sciences, University of Southampton.
  59. Subhasish M. Chowdhury & Roman M. Sheremeta & Theodore L. Turocy, 2012. "Overdissipation and Convergence in Rent-seeking Experiments: Cost structure and prize allocation rules," Working Papers 12-13, Chapman University, Economic Science Institute.
  60. Daniel Zizzo, 2010. "Experimenter demand effects in economic experiments," Experimental Economics, Springer, vol. 13(1), pages 75-98, March.
  61. Francesco Fallucchi & Elke Renner & Martin Sefton, 2013. "Information feedback and contest structure in rent-seeking games," Discussion Papers 2013-02, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
  62. Benedikt Herrmann & Henrik Orzen, 2008. "The appearance of homo rivalis: Social preferences and the nature of rent seeking," Discussion Papers 2008-10, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
  63. Botelho, Anabela & Harrison, Glenn W. & Pinto, Lígia M. Costa & Rutström, Elisabet E., 2009. "Testing static game theory with dynamic experiments: A case study of public goods," Games and Economic Behavior, Elsevier, vol. 67(1), pages 253-265.e3, September.
  64. Eisenkopf, Gerald & Teyssier, Sabrina, 2013. "Envy and loss aversion in tournaments," Journal of Economic Psychology, Elsevier, vol. 34(C), pages 240-255.
  65. Hilary, Gilles & Hui, Kai Wai, 2009. "Does religion matter in corporate decision making in America?," Journal of Financial Economics, Elsevier, vol. 93(3), pages 455-473, September.
  66. Wolfgang Leininger, 2003. "On evolutionarily stable behavior in contests," Economics of Governance, Springer, vol. 4(3), pages 177-186, November.
  67. Emel Filiz-Ozbay & Erkut Y. Ozbay, 2007. "Auctions with Anticipated Regret: Theory and Experiment," American Economic Review, American Economic Association, vol. 97(4), pages 1407-1418, September.
  68. Price, Curtis & Sheremeta, Roman, 2011. "Endowment Effects in Contests," MPRA Paper 52103, University Library of Munich, Germany.
  69. Changxia Ke & Kai A. Konrad & Florian Morath, 2010. "Brothers in Arms - An Experiment on the Alliance Puzzle," CESifo Working Paper Series 3302, CESifo Group Munich.
  70. Curtis R. Price & Roman M. Sheremeta, 2012. "Endowment Origin, Demographic Effects and Individual Preferences in Contests," Working Papers 12-07, Chapman University, Economic Science Institute.
  71. Hehenkamp, B. & Leininger, W. & Possajennikov, A., 2004. "Evolutionary equilibrium in Tullock contests: spite and overdissipation," European Journal of Political Economy, Elsevier, vol. 20(4), pages 1045-1057, November.
  72. Philip Brookins & John Lightle & Dmitry Ryvkin, 2014. "An experimental study of sorting in group contests," Working Papers wp2014_01_01, Department of Economics, Florida State University.
  73. Cason, Timothy & Masters, William & Sheremeta, Roman, 2010. "Entry into Winner-Take-All and Proportional-Prize Contests: An Experimental Study," MPRA Paper 49886, University Library of Munich, Germany.
  74. Potters, J.J.M. & de Vries, C.G. & van Winden, F.A.A.M., 1998. "An experimental examination of rational rentseeking," Other publications TiSEM 496ad30e-8453-4c83-a5e1-5, Tilburg University, School of Economics and Management.
  75. Tversky, Amos & Kahneman, Daniel, 1992. " Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
  76. Lim, Wooyoung & Matros, Alexander & Turocy, Theodore L., 2014. "Bounded rationality and group size in Tullock contests: Experimental evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 99(C), pages 155-167.
  77. Chen, Yan & Katuščák, Peter & Ozdenoren, Emre, 2013. "Why canʼt a woman bid more like a man?," Games and Economic Behavior, Elsevier, vol. 77(1), pages 181-213.
  78. Erik O. Kimbrough & Roman M. Sheremeta, 2012. "Side-Payments and the Costs of Conflict," Working Papers 12-01, Chapman University, Economic Science Institute.
  79. Agranov, Marina & Tergiman, Chloe, 2013. "Incentives and compensation schemes: An experimental study," International Journal of Industrial Organization, Elsevier, vol. 31(3), pages 238-247.
  80. Gary Charness & Matthias Sutter, 2012. "Groups Make Better Self-Interested Decisions," Journal of Economic Perspectives, American Economic Association, vol. 26(3), pages 157-76, Summer.
  81. Shakun D. Mago & Roman M. Sheremeta, 2012. "Multi-Battle Contests: An Experimental Study," Working Papers 12-06, Chapman University, Economic Science Institute.
  82. Ke, Changxia & Konrad, Kai A. & Morath, Florian, 2013. "Brothers in arms - An experiment on the alliance puzzle," Munich Reprints in Economics 22069, University of Munich, Department of Economics.
  83. Erik O. Kimbrough & Roman M. Sheremeta, 2012. "Why Can’t We Be Friends? Entitlements, bargaining, and conflict," Working Papers 12-16, Chapman University, Economic Science Institute.
  84. Savikhin, Anya & Sheremeta, Roman, 2012. "Simultaneous Decision-Making in Competitive and Cooperative Environments," MPRA Paper 46809, University Library of Munich, Germany.
  85. Klemperer, Paul, 2002. "How (not) to run auctions: The European 3G telecom auctions," European Economic Review, Elsevier, vol. 46(4-5), pages 829-845, May.
  86. Gill, David & Stone, Rebecca, 2010. "Fairness and Desert in Tournaments," MPRA Paper 21322, University Library of Munich, Germany.
  87. Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard H, 1990. "Experimental Tests of the Endowment Effect and the Coase Theorem," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1325-48, December.
  88. Shakun D. Mago & Anya C. Savikhin & Roman M. Sheremeta, 2012. "Facing Your Opponents: Social identification and information feedback in contests," Working Papers 12-15, Chapman University, Economic Science Institute.
  89. Xiaojing Kong, 2008. "Loss Aversion and Rent-Seeking: An Experimental Study," Discussion Papers 2008-13, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
  90. Deck, Cary & Sheremeta, Roman, 2012. "Fight or Flight?," MPRA Paper 52130, University Library of Munich, Germany.
  91. Richard Engelbrecht-Wiggans & Elena Katok, 2007. "Regret in auctions: theory and evidence," Economic Theory, Springer, vol. 33(1), pages 81-101, October.
  92. Sheremeta, Roman & Zhang, Jingjing, 2009. "Can Groups Solve the Problem of Over-Bidding in Contests?," MPRA Paper 49885, University Library of Munich, Germany.
  93. Shogren, Jason F & Baik, Kyung H, 1991. " Reexamining Efficient Rent-Seeking in Laboratory Markets," Public Choice, Springer, vol. 69(1), pages 69-79, February.
  94. Sheremeta, Roman M., 2010. "Experimental comparison of multi-stage and one-stage contests," Games and Economic Behavior, Elsevier, vol. 68(2), pages 731-747, March.
  95. Christine Harbring & Bernd Irlenbusch, 2011. "Sabotage in Tournaments: Evidence from a Laboratory Experiment," Management Science, INFORMS, vol. 57(4), pages 611-627, April.
  96. Erik O. Kimbrough & Roman M. Sheremeta & Timothy Shields, 2011. "Resolving Conflicts by a Random Device," Working Papers 11-09, Chapman University, Economic Science Institute.
  97. Yasar Barut & Dan Kovenock & Charles Noussair, 1999. "A Comparison of Multiple-Unit All-Pay and Winner-Pay Auctions Under Incomplete Information," CIG Working Papers FS IV 99-09, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
  98. Amegashie, J. Atsu & Runkel, Marco, 2008. "The Paradoxes of Revenge in Conflicts," MPRA Paper 7687, University Library of Munich, Germany.
  99. Hillman, Arye L & Katz, Eliakim, 1984. "Risk-Averse Rent Seekers and the Social Cost of Monopoly Power," Economic Journal, Royal Economic Society, vol. 94(373), pages 104-10, March.
  100. Gerald Eisenkopf & Sabrina Teyssier, 2010. "Envy and Loss Aversion in Tournaments," TWI Research Paper Series 52, Thurgauer Wirtschaftsinstitut, Universität Konstanz.
  101. Peter Tufano, 2008. "Saving whilst Gambling: An Empirical Analysis of UK Premium Bonds," American Economic Review, American Economic Association, vol. 98(2), pages 321-26, May.
  102. Konrad, Kai A & Schlesinger, Harris, 1997. "Risk Aversion in Rent-Seeking and Rent-Augmenting Games," Economic Journal, Royal Economic Society, vol. 107(445), pages 1671-83, November.
  103. Sheremeta, Roman, 2009. "Experimental Comparison of Multi-Stage and One-Stage Contests," MPRA Paper 49884, University Library of Munich, Germany.
  104. Chowdhury, Subhasish & Sheremeta, Roman, 2011. "Multiple Equilibria in Tullock Contests," MPRA Paper 52104, University Library of Munich, Germany.
  105. Dan Lovallo & Colin Camerer, 1999. "Overconfidence and Excess Entry: An Experimental Approach," American Economic Review, American Economic Association, vol. 89(1), pages 306-318, March.
  106. Ahn, T.K. & Isaac, R. Mark & Salmon, Timothy C., 2011. "Rent seeking in groups," International Journal of Industrial Organization, Elsevier, vol. 29(1), pages 116-125, January.
  107. Charles A. Holt & Susan K. Laury, 2002. "Risk Aversion and Incentive Effects," American Economic Review, American Economic Association, vol. 92(5), pages 1644-1655, December.
  108. Marco Casari & John C. Ham & John H. Kagel, 2007. "Selection Bias, Demographic Effects, and Ability Effects in Common Value Auction Experiments," American Economic Review, American Economic Association, vol. 97(4), pages 1278-1304, September.
  109. Sheremeta, Roman, 2009. "Contest Design: An Experimental Investigation," MPRA Paper 52101, University Library of Munich, Germany.
  110. Rachel Croson & James Sundali, 2005. "The Gambler’s Fallacy and the Hot Hand: Empirical Data from Casinos," Journal of Risk and Uncertainty, Springer, vol. 30(3), pages 195-209, May.
  111. Skaperdas, Stergios & Gan, Li, 1995. "Risk Aversion in Contests," Economic Journal, Royal Economic Society, vol. 105(431), pages 951-62, July.
  112. Eric Schniter & Roman M. Sheremeta & Timothy Shields, 2011. "Conflicted Minds: Recalibrational Emotions Following Trust-based Interaction," Working Papers 11-12, Chapman University, Economic Science Institute.
  113. Hyndman, Kyle & Ozbay, Erkut Y. & Sujarittanonta, Pacharasut, 2012. "Rent seeking with regretful agents: Theory and experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 84(3), pages 866-878.
  114. Erte Xiao & Daniel Houser, 2005. "Emotion expression in human punishment behavior," Experimental 0504003, EconWPA, revised 18 May 2005.
  115. Price, Curtis R. & Sheremeta, Roman M., 2011. "Endowment effects in contests," Economics Letters, Elsevier, vol. 111(3), pages 217-219, June.
  116. Schniter, Eric & Sheremeta, Roman & Sznycer, Daniel, 2013. "Building and Rebuilding Trust with Promises and Apologies," MPRA Paper 53596, University Library of Munich, Germany.
  117. Canice Prendergast, 1999. "The Provision of Incentives in Firms," Journal of Economic Literature, American Economic Association, vol. 37(1), pages 7-63, March.
  118. Xiaojing Kong, 2008. "Loss Aversion and Rent-Seeking: An Experimental Study," Discussion Papers 2008-13, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
  119. Dechenaux, Emmanuel & Kovenock, Dan & Sheremeta, Roman, 2014. "A Survey of Experimental Research on Contests, All-Pay Auctions and Tournaments," MPRA Paper 59714, University Library of Munich, Germany.
  120. Roman M. Sheremeta & William A. Masters & Timothy N. Cason, 2012. "Winner-Take-All and Proportional-Prize Contests: Theory and Experimental Results," Working Papers 12-04, Chapman University, Economic Science Institute.
  121. Kimbrough, Erik & Sheremeta, Roman, 2013. "Side-Payments and the Costs of Conflict," MPRA Paper 46808, University Library of Munich, Germany.
  122. McKelvey Richard D. & Palfrey Thomas R., 1995. "Quantal Response Equilibria for Normal Form Games," Games and Economic Behavior, Elsevier, vol. 10(1), pages 6-38, July.
  123. Millner, Edward L & Pratt, Michael D, 1991. " Risk Aversion and Rent-Seeking: An Extension and Some Experimental Evidence," Public Choice, Springer, vol. 69(1), pages 81-92, February.
  124. Anderson, Lisa R & Stafford, Sarah L, 2003. " An Experimental Analysis of Rent Seeking under Varying Competitive Conditions," Public Choice, Springer, vol. 115(1-2), pages 199-216, April.
  125. Gneezy, Uri & Smorodinsky, Rann, 2006. "All-pay auctions--an experimental study," Journal of Economic Behavior & Organization, Elsevier, vol. 61(2), pages 255-275, October.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:44124. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.