Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/147362 
Year of Publication: 
2016
Series/Report no.: 
CESifo Working Paper No. 6108
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
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.
Subjects: 
asymmetric contest
discouragement effect
disappointment aversion
laboratory experiment
JEL: 
C72
C92
D72
Document Type: 
Working Paper
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