THE THRILL OF VICTORY, THE AGONY OF DEFEAT

被引:1
作者
MATEER, GD [1 ]
LAWSON, RA [1 ]
机构
[1] SHAWNEE STATE UNIV,DEPT SOCIAL SCI,PORTSMOUTH,OH 45662
关键词
D O I
10.1007/BF01047749
中图分类号
F [经济];
学科分类号
02 ;
摘要
This paper presents experimental evidence from a rent-seeking exercise where the highest bidder wins the rent, but all bidders, including the winner, lost their wagers. This exercise closely resembles the rent-seeking dilemma facing agents in many settings. There are two main conclusions from the results. First, there is a tendency towards overdissipation of the rent. Second, some individuals are willing to pay more for a rent than its face-value would warrant. We attribute this phenomenon to a ''thrill of victory'' effect.
引用
收藏
页码:305 / 312
页数:8
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