![Sample our Economics, Finance,Business & Industry journals, sign in here to start your access, latest two full volumes FREE to you for 14 days]({"type":"image" , "src" : "/sda/5931/TOC-Subject-Sample-2021-Economics-Finance-Business-Industry.jpg"})
Abstract
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.
Acknowledgements
Financial support by the Deutsche Forschungsgemeinschaft (DFG), SFB-TR 15 (Governance and the efficiency of economic systems), is gratefully acknowledged.
Notes
Other papers that examine soccer data include Reilly and Witt (Citation1995), Haugen and Hervik (Citation2002) and Koning (Citation2003). Incentive effects of sports tournaments have been analysed by Ehrenberg and Bognanno (Citation1990, Golf), Becker and Huselid (Citation1992, stock car races) as well as Garicano and Palacios-Huerta (2001, soccer).
During the observation period there have been 160 home, but only 74 away victories.
![Supercharge Your Next Research Paper: Research and write your next paper with Jenni AI.]({"type":"image" , "src" : "/sda/112440/MPU-Jenni-AI-ECONOMICS.png"})