Overbidding and overspreading in rent-seeking experiments: cost structure and prize allocation rules

DOI10.1016/J.GEB.2014.05.004zbMath1302.91051OpenAlexW1694007784MaRDI QIDQ485770

Subhasish M. Chowdhury, Theodore L. Turocy, Roman M. Sheremeta

Publication date: 14 January 2015

Published in: Games and Economic Behavior (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.geb.2014.05.004

zbMATH Keywords

experimentsquantal responsecontest designcontestoverbiddingrent-seeking

Mathematics Subject Classification ID

Resource and cost allocation (including fair division, apportionment, etc.) (91B32) Experimental studies (91A90)

Related Items (10)

Tournaments and piece rates revisited: a theoretical and experimental study of output-dependent prize tournaments ⋮ Cooperation and distributive conflict ⋮ Contests with group size uncertainty: experimental evidence ⋮ Learning in rent-seeking contests with payoff risk and foregone payoff information ⋮ Rent dissipation in simple Tullock contests ⋮ Framing and repeated competition ⋮ That's the ticket: explicit lottery randomisation and learning in Tullock contests ⋮ Learning and dropout in contests: an experimental approach ⋮ Identifying types in contest experiments ⋮ Level-\(k\) models and overspending in contests

Uses Software

• Z-Tree

Cites Work

• Unnamed Item
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• `Stochastically more risk averse': a contextual theory of stochastic discrete choice under risk
• Can groups solve the problem of over-bidding in contests?
• Advances in prospect theory: cumulative representation of uncertainty
• On the existence and uniqueness of pure Nash equilibrium in rent-seeking games
• Quantal response equilibria for normal form games
• The evolution of preferences for conflict
• Endogenous timing in a gaming tournament
• Experimental comparison of multi-stage and one-stage contests
• A Generalization of the Quasilinear Mean with Applications to the Measurement of Income Inequality and Decision Theory Resolving the Allais Paradox
• Prospect Theory: An Analysis of Decision under Risk

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