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Public Leaderboard Feedback in Sampling Competition: An Experimental Investigation

Author

Listed:
  • Stanton Hudja
  • Brian Roberson
  • Yaroslav Rosokha

Abstract

We investigate the role of performance feedback, in the form of a public leaderboard, in a sequential-sampling contest with costly observations. We show theoretically that for contests with a fixed ending date (i.e., finite horizon), providing public performance feedback may result in fewer expected observations and a lower expected value of the winning observation. We conduct a controlled laboratory experiment to test the theoretical predictions, and find that the experimental results largely support the theory. In addition, we investigate how individual characteristics affect competitive sequential-sampling activity.

Suggested Citation

  • Stanton Hudja & Brian Roberson & Yaroslav Rosokha, 2022. "Public Leaderboard Feedback in Sampling Competition: An Experimental Investigation," Purdue University Economics Working Papers 1346, Purdue University, Department of Economics.
    • Handle: RePEc:pur:prukra:1346
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    File URL: https://business.purdue.edu/research/working-papers-series/2024/1346.pdf
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    More about this item

    JEL classification:

    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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