In a tournament, a principal sets a prize, and several agents then compete to attain the highest observed output, and win the prize. This paper departs from the existing literature on tournaments by assuming that agents can influence the spread of their distribution of output, in addition to the mean. We ask in which way risk taking and effort interacts in equilibrium. First, under standard tou...

This study provides a baseline examination of teenage sexual relationships in 1991 in a sample drawn from 9 state and independent schools in southwest England; a follow up was conducted in 1992. 1025 students in year 11 and aged 15-16 responded in 1991; the follow up in 1992 showed 315 returning the questionnaire. Information was requested on knowledge of sexually transmitted diseases (STDs),...

Prior research has revealed racial disparities in health outcomes and health-compromising behaviors, such as smoking and drug abuse. It has been suggested that discrimination contributes to such disparities, but the mechanisms through which this might occur are not well understood. In the research reported here, we examined whether the experience of discrimination affects acute physiological st...

We conduct the first systematic analysis of the effect of CEO tenure on risk-taking. We document an overall positive impact of CEO tenure on risk-taking. Our results suggest that this positive relation may not be explained by tenure proxying for power, experiences, or human capital investment. Instead, the results are consistent with the hypothesis that the declining career concerns associated ...