@techreport{Lee2004Prize,
abstract = {This study examines whether people optimally respond to prize incentives for risk taking in
tournaments. I exploit the television game show World Poker Tour as a natural experiment.
The results show that professional players strategically choose the degree of risk taking
depending on the incentives implied by the prize structure they face. I find that they are more
sensitive to losses than to gains.},
author = {Jungmin Lee},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {M5; D8; 330; risk; tournament; poker; Risikopr\"{a}ferenz; Gl\"{u}cksspiel; Wettbewerb; Preis; \"{O}konomischer Anreiz; Experiment},
language = {eng},
number = {1345},
title = {Prize and Risk-Taking Strategy in Tournaments : Evidence from Professional Poker Players},
type = {IZA Discussion paper series},
url = {http://hdl.handle.net/10419/20615},
year = {2004}
}
