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Competition and Subsequent Risk-Taking Behaviour: Heterogeneity across Gender and Outcomes


  • Filippin, Antonio

    () (University of Milan)

  • Gioia, Francesca

    () (University of Edinburgh)


This paper studies if competition affects subsequent risk-taking behaviour by means of a laboratory experiment that manipulates the degree of competitiveness of the environment under equivalent monetary incentives. We find that competition increases risk aversion, especially for males, but not in a significant manner. When conditioning on the outcome, we find that males become significantly more risk averse after losing the tournament than after randomly earning the same low payoff. In contrast, males do not become more risk-seeking after winning the tournament, while females' average risk-taking behaviour is unaffected by tournament participation and outcomes. We interpret our findings in terms of males' reaction to negative outcomes driven by intrinsic motives, such as emotions or a shift in the locus of control from internal to external.

Suggested Citation

  • Filippin, Antonio & Gioia, Francesca, 2017. "Competition and Subsequent Risk-Taking Behaviour: Heterogeneity across Gender and Outcomes," IZA Discussion Papers 10792, Institute for the Study of Labor (IZA).
  • Handle: RePEc:iza:izadps:dp10792

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    References listed on IDEAS

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    More about this item


    competition; risk attitudes; gender;

    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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