An Empirical Study on Risk Taking in Tournaments
AbstractIndividuals faced by a tournament can oftentimes not only choose their effort level, but also the risk level of their strategy. There are some theoretical contributions on risk taking in tournaments, which mainly point out disadvantages with respect to exerted effort. Empirical evidence is rare. In this paper we analyze risk taking behavior of professional soccer coaches. We find that risk taking concerning the kind of observed substitutions is, indeed, relevant. However, risk taking does not pay off.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University of Bonn, Germany in its series Bonn Econ Discussion Papers with number bgse6_2005.
Date of creation: Feb 2005
Date of revision:
Contact details of provider:
Postal: Bonn Graduate School of Economics, University of Bonn, Adenauerallee 24 - 26, 53113 Bonn, Germany
Fax: +49 228 73 6884
Web page: http://www.bgse.uni-bonn.de
Other versions of this item:
- NEP-ALL-2005-02-13 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hvide, H.K. & Kristiansen, E.G., 1999.
"Risk Taking in Selection Contests,"
5-99, Tel Aviv.
- Barry Reilly & Robert Witt, 1995. "English league transfer prices: is there a racial dimension?," Applied Economics Letters, Taylor & Francis Journals, vol. 2(7), pages 220-222.
- R. H. Koning, 2003. "An econometric evaluation of the effect of firing a coach on team performance," Applied Economics, Taylor & Francis Journals, vol. 35(5), pages 555-564.
- Chevalier, J. & Ellison, G., 1996.
"Risk Taking by Mutual Funds as a Response to Incentives,"
96-3, Massachusetts Institute of Technology (MIT), Department of Economics.
- Chevalier, Judith & Ellison, Glenn, 1997. "Risk Taking by Mutual Funds as a Response to Incentives," Journal of Political Economy, University of Chicago Press, vol. 105(6), pages 1167-1200, December.
- Judith A. Chevalier & Glenn D. Ellison, 1995. "Risk Taking by Mutual Funds as a Response to Incentives," NBER Working Papers 5234, National Bureau of Economic Research, Inc.
- Lee, Jungmin, 2004. "Prize and Risk-Taking Strategy in Tournaments: Evidence from Professional Poker Players," IZA Discussion Papers 1345, Institute for the Study of Labor (IZA).
- Hvide, H.K., 1999.
"Tournament Rewards and Risk Taking,"
32-99, Tel Aviv.
- Hans K. Hvide, 2000. "Tournament Rewards and Risk Taking," Econometric Society World Congress 2000 Contributed Papers 0163, Econometric Society.
- Matthias Kräkel & Dirk Sliwka, 2001.
"Risk Taking in Asymmetric Tournaments,"
Bonn Econ Discussion Papers
bgse33_2001, University of Bonn, Germany.
- Ronald G. Ehrenberg & Michael L. Bognanno, 1988.
"Do Tournaments Have Incentive Effects?,"
NBER Working Papers
2638, National Bureau of Economic Research, Inc.
Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Norms, agency & competition
by chris dillow in Stumbling and Mumbling on 2009-09-04 13:06:46
- Friday football notes from Chris Dillow
by Michael Giberson in knowledge problem on 2009-09-04 19:18:21
- Christos Genakos & Mario Pagliero, 2009. "Risk Taking and Performance in Multistage Tournaments: Evidence from Weightlifting Competitions," CEP Discussion Papers dp0928, Centre for Economic Performance, LSE.
- B Frick & R Simmons, 2007. "The allocation of rewards in athletic contests," Working Papers 591160, Lancaster University Management School, Economics Department.
- Mueller-Langer, Frank & Andreoli-Versbach, Patrick, 2013. "Leading-effect vs. Risk-taking in Dynamic Tournaments: Evidence from a Real-life Randomized Experiment," Discussion Papers in Economics 15452, University of Munich, Department of Economics.
- Kondo, Kazumine, 2011. "Have credit rating agencies become more stringent towards Japanese regional banks?," MPRA Paper 30500, University Library of Munich, Germany.
- repec:lan:wpaper:3570 is not listed on IDEAS
- Stephan Nuesch & Hartmut Haas, 2012. "Empirical Evidence on the “Never Change a Winning Team” Heuristic," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 232(3), pages 247-257, May.
- Kräkel, Matthias, 2007.
"Optimal Risk Taking in an Uneven Tournament Game with Risk Averse Players,"
Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems
200, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
- Kräkel, Matthias, 2008. "Optimal risk taking in an uneven tournament game with risk averse players," Journal of Mathematical Economics, Elsevier, vol. 44(11), pages 1219-1231, December.
- Matthias Kräkel, 2007. "Optimal Risk Taking in an Uneven Tournament Game with Risk Averse Players," Bonn Econ Discussion Papers bgse4_2007, University of Bonn, Germany.
- repec:lan:wpaper:3963 is not listed on IDEAS
- Grund, Christian & Höcker, Jan & Zimmermann, Stefan, 2010. "Risk Taking Behavior in Tournaments: Evidence from the NBA," IZA Discussion Papers 4812, Institute for the Study of Labor (IZA).
- repec:lan:wpaper:3678 is not listed on IDEAS
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (BGSE Office).
If references are entirely missing, you can add them using this form.