Asymmetric Discouragement in Asymmetric Contests

Beschreibung

We provide new experimental evidence which suggests an asymmetric discouragement effect in lottery contests with heterogeneous abilities. Compared to a symmetric contest, subjects invest less effort when facing a stronger opponent, but they invest the same when facing a weaker opponent. Our results can be explained by a simple model of disappointment aversion.

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Christoph March

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Asymmetric Contest Disappointment Aversion Discouragement Effect

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