March, ChristophChristophMarch0000-0002-6564-2843Sahm, MarcoMarcoSahm0000-0002-6528-65512019-09-192018-06-2820170165-1765https://fis.uni-bamberg.de/handle/uniba/44053We provide new experimental evidence which suggests an asymmetric discouragement effect in lottery contests with heterogeneous abilities. Compared to a symmetric contest, subjects invest less effort when facing a stronger opponent, but they invest the same when facing a weaker opponent. Our results can be explained by a simple model of disappointment aversion.engAsymmetric contestDiscouragement effectDisappointment aversionLaboratory experimentarticle10.1016/j.econlet.2016.11.032