Competition and Well-Being

Arbeitspapier

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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Tinbergen Institute Discussion Paper ; No. 04-041/1

Classification and Topics

• Classification: Wirtschaft ; Relation of Economics to Social Values ; Design of Experiments: Laboratory, Group Behavior ; Distribution: General ; Labor-Management Relations, Trade Unions, and Collective Bargaining: General ; Personnel Economics: General
• Subject: competition ; happiness ; well-being ; laboratory experiment ; emotions ; market interaction ; Wettbewerb ; Unvollständiger Vertrag ; Lebensqualität

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Brandts, Jordi ; Riedl, Arno ; van Winden, Frans
• Event: Veröffentlichung
• (who): Tinbergen Institute
• (where): Amsterdam and Rotterdam
• (when): 2004

Further information

• Handle: http://hdl.handle.net/10419/86364
• Last update: 10.03.2025, 11:44 AM CET