Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/86364
Authors: 
Brandts, Jordi
Riedl, Arno
van Winden, Frans
Year of Publication: 
2004
Series/Report no.: 
Tinbergen Institute Discussion Paper 04-041/1
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.
Subjects: 
competition
happiness
well-being
laboratory experiment
emotions
market interaction
JEL: 
A13
C92
D30
J50
M50
Document Type: 
Working Paper

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