The hot hand and the cold hand in professional golf
AbstractPrevious studies have shown that people believe in the existence of the “hot hand” effect: recent good performances make one more confident and lead to more good performances. However, economists have found little evidence that such an effect is present. Motivated by models of momentum from psychology, this study examines hole-by-hole performances of four types of professional golfers, which is perhaps the ideal environment to evaluate whether such an effect exists. The results show that evidence consistent with the existence of hot hand and cold hand can be masked by looking only at overall mean impacts because the existence and magnitude of the effects can vary with the player's experience.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Behavior & Organization.
Volume (Year): 81 (2012)
Issue (Month): 1 ()
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Web page: http://www.elsevier.com/locate/jebo
Hot hand effect; Golf; Law of small numbers; Decision making;
Find related papers by JEL classification:
- D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
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