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.
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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:
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- NEP-ALL-2005-02-13 (All new papers)
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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
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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.
- 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.
- Kondo, Kazumine, 2011. "Have credit rating agencies become more stringent towards Japanese regional banks?," MPRA Paper 30500, University Library of Munich, Germany.
- B Frick & R Simmons, 2007. "The allocation of rewards in athletic contests," Working Papers 591160, Lancaster University Management School, Economics Department.
- 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:3570 is not listed on IDEAS
- repec:lan:wpaper:3678 is not listed on IDEAS
- 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.
- repec:lan:wpaper:3963 is not listed on IDEAS
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