In an asymmetric tournament model with endogenous risk choice by the agents it is shown that equilibrium efforts decrease (increase) with risk if abilities are sufficiently similar (different). Risk also affects winning probabilities. The interaction of both effects is analyzed.

The present thesis examines if and to what extent microeconomic theory can explain the observable behavior of individuals in competitive environments. On the basis of self-compiled datasets from (professional) sports competitions as well as a widely broadcasted TV quiz-show two research...

It is a puzzle why people often evaluate consequences of choices separately (narrow bracketing) rather than jointly (broad bracketing). We study the hypothesis that a present-biased individual, who faces two tasks, may bracket his goals narrowly for motivational reasons. Goals motivate because...