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http://hdl.handle.net/10419/34965
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| Title: | | Risk-taking tournaments: theory and experimental evidence  |
| Authors: | | Nieken, Petra Sliwka, Dirk |
| Issue Date: | | 2008 |
| Series/Report no.: | | IZA Discussion Papers 3400 |
| Abstract: | | We study risk-taking behavior in a simple two person tournament in a theoretical model as well as a laboratory experiment. First, a model is analyzed in which two agents simultaneously decide between a risky and a safe strategy and we allow for all possible degrees of correlation between the outcomes of the risky strategies. We show that risk-taking behavior crucially depends on this correlation as well as on the size of a potential lead of one of the contestants. We find that the experimental subjects acted mostly quite well in line with the derived theoretical predictions. |
| Subjects: | | Tournaments competition risk-taking experiment |
| JEL: | | M51 |
| Persistent Identifier of the first edition: | | urn:nbn:de:101:1-2008031840 |
| Document Type: | | Working Paper |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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