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Endowment Effects in Contests

Publication Date
  • C72 - Noncooperative Games
  • C91 - Laboratory
  • Individual Behavior
  • D72 - Political Processes: Rent-Seeking
  • Lobbying
  • Elections
  • Legislatures
  • And Voting Behavior
  • Economics


We experimentally study overbidding in contests and find that overbidding is significantly higher when subjects are given a large per-experiment endowment rather than when the endowment is given per-period. Risk-aversion and non-monetary utility of winning can partially explain our findings.

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