/pdf/economics-of-natural-resources-and-the-environment-43k62iyyte.pdf

Economics of natural resources and the environment

The theory of environmental policy

It is widely recognized that active media can play a role in enhancing political competition by informing voters Collusion between government and media can, however, undermine this role We extend the political accountability model to include the presence of media outlets and the possibility that the incumbent exerts influence over them In equilibrium, the media structure is linked to political outcomes in two ways: directly through its monitoring capacity and indirectly through political capture We examine evidence both across countries and within India

Handcuffs for the Grabbing Hand? Media Capture and Government Accountability

Many economic, political and social environments can be described as contests in which agents exert costly efforts while competing over the distribution of a scarce resource. These environments have been studied using Tullock contests, all-pay auctions and rank-order tournaments. This survey provides a review of experimental research on these three canonical contests. First, we review studies investigating the basic structure of contests, including the contest success function, number of players and prizes, spillovers and externalities, heterogeneity, and incomplete information. Second, we discuss dynamic contests and multi-battle contests. Then we review research on sabotage, feedback, bias, collusion, alliances, and contests between groups, as well as real-effort and field experiments. Finally, we discuss applications of contests to the study of legal systems, political competition, war, conflict avoidance, sales, and charities, and suggest directions for future research.

/pdf/a-survey-of-experimental-research-on-contests-all-pay-1lqd8ahh9f.pdf

A Survey of Experimental Research on Contests, All-Pay Auctions and Tournaments

Many economic, political and social environments can be described as contests in which agents exert costly effort while competing over the distribution of a scarce resource. These environments have been studied using Tullock contests, all-pay auctions and rank-order tournaments. This survey provides a comprehensive review of experimental research on these three canonical contests. First, we review studies investigating the basic structure of contests, including the number of players and prizes, spillovers and externalities, heterogeneity, risk and incomplete information. Second, we discuss dynamic contests and multi-battle contests. Then we review studies examining sabotage, feedback, bias, collusion, alliances, group contests and gender, as well as field experiments. Finally, we discuss applications of contests and suggest directions for future research.

/pdf/a-survey-of-experimental-research-on-contests-all-pay-ajzmx5zmz1.pdf

A survey of experimental research on contests, all-pay auctions and tournaments

We combine a theoretical discrete-choice model of vehicle purchases, an econometric analysis of electricity emissions, and the AP2 air pollution model to estimate the geographic variation in the environmental benefits from driving electric vehicles. The second-best electric vehicle purchase subsidy ranges from $2,785 in California to -$4,964 in North Dakota, with a mean of -$1,095. Ninety percent of local environmental externalities from driving electric vehicles in one state are exported to others, implying they may be subsidized locally, even when the environmental benefits are negative overall. Geographically differentiated subsidies can reduce deadweight loss, but only modestly.

https://pubs.aeaweb.org/doi/pdfplus/10.1257/aer.20150897

Are There Environmental Benefits from Driving Electric Vehicles? The Importance of Local Factors

We study strategic choice of effort in best-of-three contests between equally skilled players. Economic theory predicts such contests are more likely to end in two rounds than in three. If, however, a contest reaches a third round, each player is equally likely to win. We test these predictions with data from professional tennis matches, using betting odds to identify equally skilled opponents. The empirical results support the theoretical predictions, suggesting players strategically adjust efforts during a best-of-three contest.

Testing Contest Theory: Evidence from Best-of-Three Tennis Matches

In two studies, we examined people's level of risk taking when making monetary decisions for other people rather than for themselves. Experiment 1 examined the role of regret in these situations; results show that regret concerns led to increased risk avoidance both when participants made decisions for other people as well as when making decisions for themselves. Experiment 2 tested whether skill tasks would lead to greater risk avoidance when the decision was for another person versus for oneself. This hypothesis was not supported, although men were more risk seeking than were women in both situations. Taken together, these studies suggest that many of the findings from risk research on individual decision making regarding financial situations generalize to decision making for others.

Risk Taking in Decision Making for Others Versus the Self

We study a rent-seeking contest in which the players'valuations of the prize are private information. We determinea Bayesian equilibrium and give conditions under which theequilibrium exists. Although players are ex ante symmetric,increased possibilities for ex post lopsidedness lead toless aggressive bidding. (Lopsidedness increases as players'values become less positively correlated or as the variationin possible values increases.) We also compare theprivate-information contest to a related public-informationcontest in which the realizations of values are commonknowledge. The contests are equally efficient and players areindifferent between the two, but risk-averse sellers of theprize are not.

Sent Seeking With Private Values

https://digitalcommons.chapman.edu/cgi/viewcontent.cgi?article=1058&context=esi_working_papers

Andrew J. Yates

Papers

Are There Environmental Benefits from Driving Electric Vehicles? The Importance of Local Factors

Testing Contest Theory: Evidence from Best-of-Three Tennis Matches

Risk Taking in Decision Making for Others Versus the Self

Sent Seeking With Private Values

Best-of-three contest experiments: Strategic versus psychological momentum