Article ID Journal Published Year Pages File Type
5071978 Games and Economic Behavior 2012 14 Pages PDF
Abstract
► We consider a stochastic contest with proportional probabilities. ► By limiting total expenditures it is possible to maximize the auctioneers revenue. ► We test this hypothesis with a laboratory experiment. ► As predicted revenue is significantly higher in a contest with rationing.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
When less is more: Rationing and rent dissipation in stochastic contests
Authors
, ,