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A Structural Analysis of Disappointment Aversion in a Real Effort Competition.

Abstract:

We develop a novel computerized real effort task, based on moving sliders across a screen, to test experimentally whether agents are disappointment averse when they compete in a real effort sequential-move tournament. Our theory predicts that a disappointment averse agent, who is loss averse around her endogenous expectations-based reference point, responds negatively to her rival’s effort. We find significant evidence for this discouragement effect, and use the Method of Simulated Moments ...

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Authors


Victoria Prowse More by this author
David Gill More by this author
Volume:
448
Series:
Discussion paper series
Publication date:
2009
URN:
uuid:550cc83f-b0e5-478a-b8ad-f26875b841d4
Local pid:
oai:economics.ouls.ox.ac.uk:14271
Language:
English

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