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Title:Prize and Risk-Taking Strategy in Tournaments : Evidence from Professional Poker Players PDF Logo
Authors:Lee, Jungmin
Issue Date:2004
Series/Report no.:IZA Discussion paper series 1345
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.
Subjects:risk
tournament
poker
JEL:M5
D8
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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