Tournaments, risk and careers:
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis/Dissertation Book |
| Language: | English |
| Published: |
Aachen
Shaker
2009
|
| Series: | Berichte aus der Betriebswirtschaft
|
| Subjects: | |
| Links: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=017654898&sequence=000004&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Physical Description: | VIII, 150 S. graph. Darst. 21 cm, 246 gr. |
| ISBN: | 9783832279622 |
Staff View
MARC
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Record in the Search Index
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|---|---|
| adam_text | Titel: Tournaments, risk and careers
Autor: Nieken, Petra
Jahr: 2009
Contents
1 Introduction 1
2 Risk-liking in Tournaments with Correlated Outcomes 11
2.1 Introduction............................ 11
2.2 Theoretical Analysis....................... 13
2.2.1 The Model......................... 13
2.2.2 Equilibrium Analysis................... 14
2.3 Experimental Design and Procedure............... 20
2.4 Hypotheses ............................ 22
2.5 Results............................... 24
2.6 Conclusion............................. 30
2.7 Appendix to Chapter 2...................... 31
3 Risk-Taking and Effort in Tournaments with Homogeneous
Agents 45
3.1 Introduction............................ 45
3.2 Theoretical Analysis....................... 47
3.2.1 The Model......................... 47
3.2.2 Equilibrium Analysis................... 48
3.3 Experimental Design and Procedure............... 50
3.4 Hypotheses............................ 53
3.5 Results............................... 54
3.6 Discussion............................. 64
3.7 Conclusion............................. 67
3.8 Appendix to Chapter 3...................... 69
i
4 Risk-Taking and Effort in Tournaments with Heterogeneous
Agents 83
4.1 Introduction............................83
4.2 The Game.............................86
4.3 Discouragement Effect, Cost Effect and Likelihood Effect ... 90
4.4 Experimental Design and Procedure...............93
4.5 Hypotheses ............................95
4.6 Experimental Results.......................97
4.6.1 The Risk Stage......................97
4.6.2 The Effort Stage.....................99
4.7 Discussion.............................103
4.8 Conclusion.............................105
4.9 Appendix to Chapter 4......................107
5 Management Changes, Career Concerns and Earnings Man-
agement 129
5.1 Introduction............................129
5.2 The Model.............................131
5.3 Equilibrium Analysis.......................133
5.4 Empirical Evidence and Testable Implications.........136
5.5 Conclusion.............................138
5.6 Appendix to Chapter 5......................139
Bibliography 142
List of Tables
2.1 Probit regressions for leading players in treatment 1...... 25
2.2 Probit regressions for treatment 2................ 27
2.3 Probit regression for leading players in treatment 3...... 29
2.4 Distribution of strategy choices for all treatments....... 33
2.5 Probit regressions for leading players in treatment 1, marginal
effects reported.......................... 33
2.6 Probit regressions with random effects for leading players in
treatment 1............................ 34
2.7 Probit regressions for leading players in treatment 1 control-
ling for risk attitude ....................... 34
2.8 Probit regressions for treatment 2, marginal effects reported . 35
2.9 Probit regressions with random effects for treatment 2..... 35
2.10 Probit regressions for treatment 2 controlling for risk attitude 36
2.11 Probit regression for leading players in treatment 3, marginal
effects reported.......................... 37
2.12 Probit regression with random effects for leading players in
treatment 3............................ 37
2.13 Probit regression for leading players in treatment 3 controlling
for risk attitude.......................... 38
3.1 Regressions for effort dependent on state............ 55
3.2 One sample mean comparison test................ 56
3.3 Regressions for effort dependent on choice of risk of the players 60
3.4 Mean and standard deviation difference between player s belief
and partner s effort........................ 61
in
3.5 Mean of difference between effort and theoretical effort by-
state and subperiod........................ 63
3.6 Regressions for choice of effort dependent on state....... 71
3.7 Fraction of the risk attitude of the players........... 72
3.8 Wilcoxon matched-pairs signed rank test for condition 2a and
2b................................. 73
3.9 Regressions for choice of effort dependent on choice of risk of
the players............................. 73
3.10 Regressions for belief dependent on state............ 74
3.11 Regressions for choice of risk dependent on the risk attitude
of the players........................... 75
3.12 Cost table............................. 81
4.1 Results on risk-taking.......................98
4.2 Results on effort choices.....................101
4.3 Results on effort comparisons ..................102
4.4 Comparison of the favorite s risk choices over treatments . . . 109
4.5 Probit regression Hypothesis 4: Comparison of the favorite s
risk-taking in the cost and discouragement treatment.....HO
4.6 Probit regression Hypothesis 5: Comparison of the favorite s
risk-taking in the discouragement and the likelihood treatment 111
4.7 Probit regression Hypothesis 6: Comparison of the favorite s
risk-taking in the cost and likelihood treatment........112
4.8 Effort choices in the discouragement treatment high risk . . .113
4.9 Effort choices in the discouragement treatment low risk .... 114
4.10 Effort choices in the discouragement treatment pooled data . . 115
4.11 Effort choices in the cost treatment high risk..........116
4.12 Effort choices in the cost treatment low risk..........117
4.13 Effort choices in the cost treatment pooled data........118
4.14 Effort choices in the likelihood treatment high risk.......119
4.15 Effort choices in the likelihood treatment low risk.......120
4.16 Effort choices in the likelihood treatment pooled data.....121
4.17 Probit regression Hypothesis 7: Discouragement treatment . . 122
iv
4.18 Probit regression Hypothesis 7: Cost treatment ........123
4.19 Probit regression Hypothesis 7: likelihood treatment.....124
List of Figures
2.1 Nash Equilibria of the game................... 19
2.2 Equilibrium mixed strategies if rho=l.............. 23
2.3 Choice of risk for each treatment ................ 24
2.4 Choice of the risky strategy for different leads in treatment 1 26
2.5 Choice of risk in treatment 2 .................. 36
2.6 Normal Distribution....................... 42
2.7 Correlation coefficient of zero.................. 43
2.8 Correlation coefficient of one................... 43
2.9 Correlation coefficient of 0.5................... 44
3.1 Mean of effort and standard deviation sorted by state .... 54
3.2 Fraction of the choice of state for two subperiods ....... 58
3.3 Mean of effort and standard deviation sorted by state with
state 2 divided in state 2a and state 2b ............ 59
3.4 Mean of difference between belief of the player and effort of
partner by state.......................... 62
3.5 Histogram of the risk attitude of the players.......... 71
3.6 Mean of effort sorted by state and subperiods......... 72
3.7 Reaction function ........................ 74
3.8 State A (low variance)...................... 79
3.9 State B (high variance)...................... 80
3.10 Overview of both distributions ................. 80
3.11 Costfunction ........................... 82
4.1 Discouragement effect ...................... 91
4.2 Likelihood effect ......................... 92
vu
4.3 Comparison of the favorite s risk choices over treatments . . . 109
4.4 Effort choices in the discouragement treatment high risk . . .113
4.5 Effort choices in the discouragement treatment low risk . . . .114
4.6 Effort choices in the discouragement treatment pooled data . . 115
4.7 Effort choices in the cost treatment high risk..........116
4.8 Effort choices in the cost treatment low risk..........117
4.9 Effort choices in the cost treatment pooled data........118
4.10 Effort choices in the likelihood treatment high risk.......119
4.11 Effort choices in the likelihood treatment low risk.......120
4.12 Effort choices in the likelihood treatment pooled data.....121
viu
|
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| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 330 - Economics |
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| dewey-search | 330.1019 330.10724 |
| dewey-sort | 3330.1019 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Thesis Book |
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| id | DE-604.BV035599828 |
| illustrated | Illustrated |
| indexdate | 2024-12-20T13:38:42Z |
| institution | BVB |
| isbn | 9783832279622 |
| language | English |
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| owner_facet | DE-12 |
| physical | VIII, 150 S. graph. Darst. 21 cm, 246 gr. |
| publishDate | 2009 |
| publishDateSearch | 2009 |
| publishDateSort | 2009 |
| publisher | Shaker |
| record_format | marc |
| series2 | Berichte aus der Betriebswirtschaft |
| spellingShingle | Nieken, Petra Tournaments, risk and careers Wettbewerb (DE-588)4065835-1 gnd Risikoverhalten (DE-588)4050133-4 gnd |
| subject_GND | (DE-588)4065835-1 (DE-588)4050133-4 (DE-588)4113937-9 |
| title | Tournaments, risk and careers |
| title_auth | Tournaments, risk and careers |
| title_exact_search | Tournaments, risk and careers |
| title_full | Tournaments, risk and careers Petra Nieken |
| title_fullStr | Tournaments, risk and careers Petra Nieken |
| title_full_unstemmed | Tournaments, risk and careers Petra Nieken |
| title_short | Tournaments, risk and careers |
| title_sort | tournaments risk and careers |
| topic | Wettbewerb (DE-588)4065835-1 gnd Risikoverhalten (DE-588)4050133-4 gnd |
| topic_facet | Wettbewerb Risikoverhalten Hochschulschrift |
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