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• W2165295364 abstract "We 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 taking risk." @default.
• W2165295364 created "2016-06-24" @default.
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• W2165295364 date "2008-03-01" @default.
• W2165295364 modified "2023-09-27" @default.
• W2165295364 title "Risk Taking in Winner-Take-All Competition" @default.
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• W2165295364 doi "https://doi.org/10.5282/ubm/epub.13319" @default.
• W2165295364 hasPublicationYear "2008" @default.
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