Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/27168 
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dc.contributor.authorKräkel, Matthiasen
dc.contributor.authorNieken, Petraen
dc.contributor.authorPrzemeck, Judithen
dc.date.accessioned2008-12-10-
dc.date.accessioned2009-08-06T12:40:58Z-
dc.date.available2009-08-06T12:40:58Z-
dc.date.issued2008-
dc.identifier.urihttp://hdl.handle.net/10419/27168-
dc.description.abstractWe analyze a two-stage game between two heterogeneous players. At stage one, common risk is chosen by one of the players. At stage two, both players observe the given level of risk and simultaneously invest in a winner-take-all competition The game is solved theoretically and then tested by using laboratory experiments. We find three effects that determine risk taking at stage one - an effort effect, a likelihood effect and a reversed likelihood effect. For the likelihood effect, risk taking and investments are clearly in line with theory. Pairwise comparison shows that the effort effect seems to be more relevant than the reversed likelihood effect when takin risk.en
dc.language.isoengen
dc.publisher|aUniversity of Bonn, Bonn Graduate School of Economics (BGSE) |cBonnen
dc.relation.ispartofseries|aBonn Econ Discussion Papers |x7/2008en
dc.subject.jelM51en
dc.subject.jelC91en
dc.subject.jelD23en
dc.subject.ddc330en
dc.subject.keywordTournamentsen
dc.subject.keywordCompetitionen
dc.subject.keywordRisk-Takingen
dc.subject.stwRisikopräferenzen
dc.subject.stwExtensives Spielen
dc.subject.stwWettbewerben
dc.subject.stwSpieltheorieen
dc.titleRisk Taking in Winner-Take-All Competition-
dc.type|aWorking Paperen
dc.identifier.ppn587681020en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:bonedp:72008-

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