TY  - RPRT
        AU  - Lee, Jungmin
        TI  - Prize and Risk-Taking Strategy in Tournaments: Evidence from Professional Poker Players
        PY  - 2004/Oct/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 1345
        UR  - https://www.iza.org/index.php/publications/dp1345
        AB  - 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.
        KW  - risk
KW  - tournament
KW  - poker
        ER  -