IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Intergenerational Attitudes Towards Strategic Uncertainty and Competition: A Field Experiment in a Swiss Bank

  • Thierry Madiès

    ()

    (CREM - Centre de Recherche en Economie et Management - CNRS : UMR6211 - Université de Rennes 1 - Université de Caen Basse-Normandie)

  • Marie Claire Villeval

    ()

    (GATE Lyon Saint-Étienne - Groupe d'analyse et de théorie économique - CNRS : UMR5824 - Université Lumière - Lyon II - École Normale Supérieure (ENS) - Lyon - PRES Université de Lyon - Université Jean Monnet - Saint-Etienne - Université Claude Bernard - Lyon I)

  • Malgorzata Wasmer

    (Department of Economics - University of Fribourg - University of Fribourg)

With a market entry game inspired by Camerer and Lovallo (1999), we study the attitudes of junior and senior employees towards strategic uncertainty and competition. Seniors exhibit higher entry rates compared to juniors, especially when the market capacity is not too low or when earnings from entry depend on relative performance. This difference persists after controlling for attitudes towards non-strategic uncertainty and for beliefs on others' competitiveness and on relative ability. Seniors are more willing to compete when they predict a higher number of competitors. This contradicts the stereotype of less competitive older employees.

If 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.

File URL: http://halshs.archives-ouvertes.fr/docs/00/80/74/36/PDF/Aging_3March13_corraccCOMPLET.pdf
Download Restriction: no

Paper provided by HAL in its series Post-Print with number halshs-00807436.

as
in new window

Length:
Date of creation: 2013
Date of revision:
Publication status: Published, European Economic Review, 2013, 61, pp. 153-168
Handle: RePEc:hal:journl:halshs-00807436
Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00807436
Contact details of provider: Web page: https://hal.archives-ouvertes.fr/

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.:

as in new window
  1. Rodney J. Garratt & Catherine Weinberger & Nick Johnson, 2013. "The State Street Mile: Age And Gender Differences In Competition Aversion In The Field," Economic Inquiry, Western Economic Association International, vol. 51(1), pages 806-815, 01.
  2. Kovalchik, Stephanie & Camerer, Colin F. & Grether, David M. & Plott, Charles R. & Allman, John M., 2003. "Aging and decision making: A comparison between neurologically healthy elderly and young individuals," Working Papers 1180, California Institute of Technology, Division of the Humanities and Social Sciences.
  3. Steven D. Levitt & John A. List, 2007. "What Do Laboratory Experiments Measuring Social Preferences Reveal About the Real World?," Journal of Economic Perspectives, American Economic Association, vol. 21(2), pages 153-174, Spring.
  4. Gary Charness & Marie-Claire Villeval, 2009. "Cooperation and Competition in Intergenerational Experiments in the Field and the Laboratory," American Economic Review, American Economic Association, vol. 99(3), pages 956-78, June.
  5. Gary Charness & Marie Claire Villeval, 2009. "Cooperation and Competition in Intergenerational Experiments in the Field and in the Laboratory," Post-Print halshs-00371984, HAL.
  6. Marie-Pierre Dargnies & Guillaume Hollard, 2008. "Incentives to learn calibration : a gender-dependent impact," Documents de travail du Centre d'Economie de la Sorbonne v08088, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  7. Cesarini, David & Sandewall, Örjan & Johannesson, Magnus, 2003. "Confidence Interval Estimation Tasks and the Economics of Overconfidence," SSE/EFI Working Paper Series in Economics and Finance 535, Stockholm School of Economics.
  8. Glenn MacDonald & Michael Weisbach, 2001. "The Economics of Has-Beens," NBER Working Papers 8464, National Bureau of Economic Research, Inc.
  9. Yan Chen & Sherry Xin Li, 2009. "Group Identity and Social Preferences," American Economic Review, American Economic Association, vol. 99(1), pages 431-57, March.
  10. Ido Erev & Eyal Ert & Alvin E. Roth, 2010. "A Choice Prediction Competition for Market Entry Games: An Introduction," Games, MDPI, Open Access Journal, vol. 1(2), pages 117-136, May.
  11. Nancy Ammon Jianakoplos & Alexandra Bernasek, 2006. "Financial Risk Taking by Age and Birth Cohort," Southern Economic Journal, Southern Economic Association, vol. 72(4), pages 981–1001, April.
  12. John Duffy & Ed Hopkins, 2004. "Learning, Information and Sorting in Market Entry Games: Theory and Evidence," ESE Discussion Papers 78, Edinburgh School of Economics, University of Edinburgh.
  13. Streb, Christoph K. & Voelpel, Sven C. & Leibold, Marius, 2008. "Managing the aging workforce:: Status quo and implications for the advancement of theory and practice," European Management Journal, Elsevier, vol. 26(1), pages 1-10, February.
  14. Tibor Besedes & Cary Deck & Sudipta Sarangi & Mikhael Shor, 2010. "Age Effects and Heuristics in Decision Making," Discussion Papers of DIW Berlin 1047, DIW Berlin, German Institute for Economic Research.
  15. Dan Lovallo & Colin Camerer, 1999. "Overconfidence and Excess Entry: An Experimental Approach," American Economic Review, American Economic Association, vol. 89(1), pages 306-318, March.
  16. Levesque, Moren & Minniti, Maria, 2006. "The effect of aging on entrepreneurial behavior," Journal of Business Venturing, Elsevier, vol. 21(2), pages 177-194, March.
  17. Hunter, Katrina & Kemp, Simon, 2004. "The personality of e-commerce investors," Journal of Economic Psychology, Elsevier, vol. 25(4), pages 529-537, August.
  18. Fox, Craig R & Tversky, Amos, 1995. "Ambiguity Aversion and Comparative Ignorance," The Quarterly Journal of Economics, MIT Press, vol. 110(3), pages 585-603, August.
  19. Roland Bénabou & Jean Tirole, 2002. "Self-Confidence And Personal Motivation," The Quarterly Journal of Economics, MIT Press, vol. 117(3), pages 871-915, August.
  20. Erev, Ido & Rapoport, Amnon, 1998. "Coordination, "Magic," and Reinforcement Learning in a Market Entry Game," Games and Economic Behavior, Elsevier, vol. 23(2), pages 146-175, May.
  21. Chan, Sewin & Stevens, Ann Huff, 2001. "Job Loss and Employment Patterns of Older Workers," Journal of Labor Economics, University of Chicago Press, vol. 19(2), pages 484-521, April.
  22. Jason Abaluck & Jonathan Gruber, 2011. "Choice Inconsistencies among the Elderly: Evidence from Plan Choice in the Medicare Part D Program," American Economic Review, American Economic Association, vol. 101(4), pages 1180-1210, June.
  23. Pavlo Blavatskyy, 2009. "Betting on own knowledge: Experimental test of overconfidence," Journal of Risk and Uncertainty, Springer, vol. 38(1), pages 39-49, February.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:hal:journl:halshs-00807436. 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: (CCSD)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.