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• W2511106070 abstract "In many contest situations, the number of participants is not observable at the time of investment. We design a laboratory experiment to study individual behavior in Tullock (lottery) contests with group size uncertainty. There is a fixed pool of n potential players, each with independent probability q of participating. As shown by Lim and Matros (2009), the unique symmetric equilibrium investment level in this setting can exhibit non-monotonicity with respect to both n and q. We independently manipulate each of the parameters and test the implied comparative statics predictions. Our results provide considerable support for the theory, both in terms of comparative statics and point predictions. In stark contrast to the experimental literature on contests with certain group size, where overbidding relative to equilibrium is widely documented, we find remarkable agreement between the observed average investment and the equilibrium investment levels in all but one treatment." @default.
• W2511106070 created "2016-09-16" @default.
• W2511106070 creator A5013175525 @default.
• W2511106070 date "2016-07-01" @default.
• W2511106070 modified "2023-09-27" @default.
• W2511106070 title "Contests with a stochastic number of players: Experimental evidence" @default.
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• W2511106070 hasPublicationYear "2016" @default.
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