Munich Personal RePEc Archive

Endowment Effects in Contests

Price, Curtis and Sheremeta, Roman (2011): Endowment Effects in Contests. Published in: Economics Letters

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Abstract

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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