Optimal risk taking in an uneven tournament game with risk averse players

DOI10.1016/J.JMATECO.2008.02.002MaRDI QIDQ952694zbMATH OpenOpenAlexFDO

Authors Matthias Kräkel

Publication date 13 November 2008

Published in Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL https://epub.ub.uni-muenchen.de/13352/1/200.pdf

zbMATH Keywords

risk takingrank-order tournamentsasymmetric equilibria

Mathematics Subject Classification ID

2-person games (91A05) Multistage and repeated games (91A20)

Recommendations

• Multi-prize contests with risk-averse players
• How noise affects effort in tournaments
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• No Guts, No Glory: An Experiment on Excessive Risk-Taking

Cites work

• A Model of Promotional Competition in Oligopoly
• A collective tournament
• Fixed-prize tournaments versus first-price auctions in innovation contests
• In defense of lawyers: Moral hazard as an aid to cooperation
• Moment preferences and polynomial utility
• Risk taking in selection contests
• The Wage Policy of a Firm

Cited in

(4)

• Competitive problem solving and the optimal prize schemes
• Simple equilibria in general contests
• Social motives and risk-taking in investment decisions
• Hold or roll: reaching the goal in jeopardy race games

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