An empirical study on risk-taking in tournaments
C Grund, O Gürtler* - Applied Economics Letters, 2005 - Taylor & Francis
Applied Economics Letters, 2005•Taylor & Francis
Individuals faced by a tournament can often not only choose their effort level, but also the
risk level of their strategy. There are some theoretical contributions on risk-taking in
tournaments, which mainly point out disadvantages with respect to exerted effort. Empirical
evidence is rare. This letter analyses the risk-taking behaviour of professional soccer
coaches. It is found that risk-taking concerning the kind of observed substitutions is, indeed,
relevant. However, risk-taking does not pay off.
risk level of their strategy. There are some theoretical contributions on risk-taking in
tournaments, which mainly point out disadvantages with respect to exerted effort. Empirical
evidence is rare. This letter analyses the risk-taking behaviour of professional soccer
coaches. It is found that risk-taking concerning the kind of observed substitutions is, indeed,
relevant. However, risk-taking does not pay off.
Individuals faced by a tournament can often not only choose their effort level, but also the risk level of their strategy. There are some theoretical contributions on risk-taking in tournaments, which mainly point out disadvantages with respect to exerted effort. Empirical evidence is rare. This letter analyses the risk-taking behaviour of professional soccer coaches. It is found that risk-taking concerning the kind of observed substitutions is, indeed, relevant. However, risk-taking does not pay off.
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