@inproceedings{Grund2010Risk,
abstract = {We empirically explore the relevance of risk taking behavior in tournaments. We make use of data from the NBA season 2007/2008 and measure risk taking by the fraction of three-point shots. Current heterogeneity of teams is taken into account by intermediate results. It turns out that indeed teams who are behind increase the risk in terms of more three-point attempts. We additionally analyze the consequences of this change in behavior. Enhanced risk taking is inefficient for the vast majority of cases and only beneficial in terms of a higher winning probability if a team is behind with a rather large amount of points. We discuss possible explanations for these decision errors.},
address = {Frankfurt a. M.},
author = {Christian Grund and Jan H\"{o}cker and Stefan Zimmermann},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {M50; M52; M12; 330; Basketball; NBA; Risk taking; Tournaments},
language = {eng},
number = {F12-V4},
publisher = {Verein f\"{u}r Socialpolitik},
series = {Beitr\"{a}ge zur Jahrestagung des Vereins f\"{u}r Socialpolitik 2010: \"{O}konomie der Familie - Session: Formation and Performance of Teams},
title = {Risk Taking Behavior in Tournaments -  Evidence from the NBA},
url = {http://hdl.handle.net/10419/37372},
year = {2010}
}
