|
|
|
IZA
|
|
|
Prize and Risk-Taking Strategy in Tournaments: Evidence from Professional Poker Players
by
Jungmin Lee
(October 2004)
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.
Text: See Discussion Paper No. 1345
|
|
|
|
|
|