TY  - RPRT
        AU  - Madies, Thierry
AU  - Villeval, Marie Claire
AU  - Wasmer, Malgorzata
        TI  - Aging and Attitudes Towards Strategic Uncertainty and Competition: An Artefactual Field Experiment in a Swiss Bank
        PY  - 2012/Jun/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 6642
        UR  - https://www.iza.org/publications/dp6642
        AB  - We study the attitudes of junior and senior employees towards strategic uncertainty and competition, by means of a market entry game inspired by Camerer and Lovallo (1999). Seniors exhibit higher entry rates compared to juniors, especially when earnings depend on relative performance. This difference persists after controlling for attitudes towards non-strategic uncertainty and for beliefs on others' competitiveness and ability. Social image matters, as evidenced by the fact that seniors enter more when they predict others enter more and when they are matched with a majority of juniors. This contradicts the stereotype of risk averse and less competitive older employees.
        KW  - experiment
KW  - confidence
KW  - self-image
KW  - competitiveness
KW  - ambiguity
KW  - risk
KW  - aging
        ER  -