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Discussion Paper Details

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Title: Competition and Well-Being

Author(s): Jordi Brandts, Arno Riedl and Frans A.A.M. van Winden

Publication Date: March 2006

Keyword(s): competition, emotions, happiness, laboratory experiment, market interaction and well-being

Programme Area(s): Industrial Organization

Abstract: This paper experimentally studies the effects of competition in an environment where people's actions can not be contractually fixed. We find that, in comparison with no competition, the presence of competition does neither increase efficiency nor does it yield any gains in earnings for the short side of the exchange relation. Moreover, competition has a clearly negative impact on the disposition towards others and on the experienced well-being of those on the long side. Since subjective well-being improves only for those on the short side competition contributes to larger inequalities in experienced well-being. All in all competition does not show up as a positive force in our environment.

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Bibliographic Reference

Brandts, J, Riedl, A and van Winden, F. 2006. 'Competition and Well-Being'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=5532