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Asset Markets: How They Are Affected by Tournament Incentives for Individuals

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  • R. Mark Isaac
  • Duncan James

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File URL: http://www.aeaweb.org/articles.php?doi=10.1257/aer.90.4.995
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Bibliographic Info

Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 90 (2000)
Issue (Month): 4 (September)
Pages: 995-1004

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Handle: RePEc:aea:aecrev:v:90:y:2000:i:4:p:995-1004

Note: DOI: 10.1257/aer.90.4.995
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References

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  1. Bull, Clive & Schotter, Andrew & Weigelt, Keith, 1987. "Tournaments and Piece Rates: An Experimental Study," Journal of Political Economy, University of Chicago Press, vol. 95(1), pages 1-33, February.
  2. Ronald G. Ehrenberg & Michael L. Bognanno, 1988. "Do Tournaments Have Incentive Effects?," NBER Working Papers 2638, National Bureau of Economic Research, Inc.
  3. Barry J. Nalebuff & Joseph E. Stiglitz, 1983. "Prices and Incentives: Towards a General Theory of Compensation and Competition," Bell Journal of Economics, The RAND Corporation, vol. 14(1), pages 21-43, Spring.
  4. Tirole, Jean, 1982. "On the Possibility of Speculation under Rational Expectations," Econometrica, Econometric Society, vol. 50(5), pages 1163-81, September.
  5. Forsythe, Robert & Palfrey, Thomas R & Plott, Charles R, 1982. "Asset Valuation in an Experimental Market," Econometrica, Econometric Society, vol. 50(3), pages 537-67, May.
  6. Brown, Keith C & Harlow, W V & Starks, Laura T, 1996. " Of Tournaments and Temptations: An Analysis of Managerial Incentives in the Mutual Fund Industry," Journal of Finance, American Finance Association, vol. 51(1), pages 85-110, March.
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Citations

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Cited by:
  1. Kempf, Alexander & Ruenzi, Stefan & Thiele, Tanja, 2009. "Employment risk, compensation incentives, and managerial risk taking: Evidence from the mutual fund industry," Journal of Financial Economics, Elsevier, vol. 92(1), pages 92-108, April.
  2. Rankin, Frederick W. & Sayre, Todd L., 2011. "Responses to risk in tournaments," Accounting, Organizations and Society, Elsevier, vol. 36(1), pages 53-62, January.
  3. Alexander Kempf & Stefan Ruenzi, 2008. "Tournaments in Mutual-Fund Families," Review of Financial Studies, Society for Financial Studies, vol. 21(2), pages 1013-1036, April.
  4. Johannes Leitner & Robert Schmidt, 2007. "Expectation formation in an experimental foreign exchange market," Central European Journal of Operations Research, Springer, vol. 15(2), pages 167-184, June.
  5. Ber, Silke & Kempf, Alexander & Ruenzi, Stefan, 2005. "Determinanten der Mittelzuflüsse bei deutschen Aktienfonds," CFR Working Papers 05-11, University of Cologne, Centre for Financial Research (CFR).
  6. Ruenzi, Stefan, 2005. "Mutual fund growth in standard an specialist market segments," CFR Working Papers 05-08, University of Cologne, Centre for Financial Research (CFR).
  7. Urs Fischbacher & Christian Thöni, . "Excess Entry in an Experimental Winner-Take-All Market," IEW - Working Papers 086, Institute for Empirical Research in Economics - University of Zurich.
  8. Duncan James, 2007. "Stability of risk preference parameter estimates within the Becker-DeGroot-Marschak procedure," Experimental Economics, Springer, vol. 10(2), pages 123-141, June.
  9. Huber, Jurgen, 2007. "`J'-shaped returns to timing advantage in access to information - Experimental evidence and a tentative explanation," Journal of Economic Dynamics and Control, Elsevier, vol. 31(8), pages 2536-2572, August.
  10. Palan, Stefan, 2010. "Digital options and efficiency in experimental asset markets," Journal of Economic Behavior & Organization, Elsevier, vol. 75(3), pages 506-522, September.

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