Competition and Well-Being

Arno Riedl, Frans van Winden () and Jordi Brandts

No 120, Working Papers from Barcelona School of Economics

Abstract: We study the effects of competition in a context in which people's actions can not be contractually fixed. We find that in such an environment the very presence of competition does neither increase efficiency nor does it yield any payoff gains for the short side of the market. We also find that competition has a strong negative impact on social well-being, the disposition towards others, and individually experienced well-being, the emotional state, of those on the long side of the market. We conjecture that this limits the possibilities of satisfactory interaction in the future and, hence, has negative implications for efficiency in the longer-run.

Keywords: competition; happiness; well-being; laboratory experiment; emotions; market interaction (search for similar items in EconPapers)
JEL-codes: A13 C92 D30 J50 M50 (search for similar items in EconPapers)
Date: 2015-09
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Related works:
Working Paper: Competition and Well-Being (2006)
Working Paper: Competition and Well-Being (2005)
Working Paper: Competition and well-being (2005)
Working Paper: Competition and Well-Being (2004)
Working Paper: Competition and Well-Being (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:bge:wpaper:120

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