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Title:Competition and well-being PDF Logo
Authors:Brandts, Jordi
Riedl, Arno
van Winden, Frans
Issue Date:2005
Series/Report no.:IZA Discussion Papers 1769
Abstract:This paper experimentally studies the effects of competition in an environment where people's actions can not be contractually fixed. We find that, in comparison with no competition, the presence of competition does neither increase efficiency nor does it yield any gains in earnings for the short side of the exchange relation. Moreover, competition has a clearly negative impact on the disposition towards others and on the experienced well-being of those on the long side. Since subjective well-being improves only for those on the short side competition contributes to larger inequalities in experienced well-being. All in all competition does not show up as a positive force in our environment.
Subjects:competition
happiness
well-being
laboratory experiment
emotions
market interaction
JEL:A13
C92
D30
J50
M50
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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