It's not how you play the game, it's winning that matters: an experimental investigation of asymmetric contests

Miguel Alexandre Fonseca ()

DOCUMENTOS DE CERAC from CERAC -CENTRO DE RECURSOS PARA EL ANÁLISIS DE CONFLICTOS-

Abstract: This paper reports an experimental test of asymmetric Tullock contests. Both the simultaneous-move and sequential-move frameworks are considered. The introduction of asymmetries in the contest function generates experimental behavior qualitatively consistent with the theoretical predictions. However, especially in the simultaneous-move framework, average bidding levels are in excess of the risk-neutral predictions. We conjecture that the reason behind this behavior lies in subjects attaching positive utility to victory in the contest.

Date: 2006-02-03
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