An Empirical Study on Risk Taking in Tournaments
Individuals 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.
|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
References listed on IDEAS
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.:
- Matthias Kräkel & Dirk Sliwka, 2004.
"Risk Taking in Asymmetric Tournaments,"
German Economic Review,
Verein für Socialpolitik, vol. 5(1), pages 103-116, 02.
- Hans K. Hvide, 2000.
"Tournament Rewards and Risk Taking,"
Econometric Society World Congress 2000 Contributed Papers
0163, Econometric Society.
- Hvide, Hans K. & Kristiansen, Eirik G., 2003.
"Risk taking in selection contests,"
Games and Economic Behavior,
Elsevier, vol. 42(1), pages 172-179, January.
- Ronald G. Ehrenberg & Michael L. Bognanno, 1988.
"Do Tournaments Have Incentive Effects?,"
NBER Working Papers
2638, National Bureau of Economic Research, Inc.
- 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.
- 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.
- 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).
- 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.
When requesting a correction, please mention this item's handle: RePEc:bon:bonedp:bgse6_2005. See general information about how to correct material in RePEc.
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.