Risk Taking in Asymmetric Tournaments
In an asymmetric tournament model with endogenous risk choice by the agents it is shown that equilibrium efforts decrease (increase) with risk if abilities are sufficiently similar (different). Risk also affects winning probabilities. The interaction of both effects is analyzed.
|Date of creation:||Nov 2001|
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References listed on IDEAS
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- Hans K. Hvide, 2000.
"Tournament Rewards and Risk Taking,"
Econometric Society World Congress 2000 Contributed Papers
0163, Econometric Society.
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NBER Working Papers
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"Do Tournaments Have Incentive Effects?,"
NBER Working Papers
2638, National Bureau of Economic Research, Inc.
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