We use information from the television game show with the highest guaranteed average payoff in the United States, Hoosier Millionaire, to analyze risktaking in a high-stakes experiment. We characterize gambling decisions under alternative assumptions about contestant behavior and preferences,...

"The Wheel" is a sequential game of perfect information played twice during each taping of the television game show "The Price is Right". This game has simple rules and the stakes are high. We derive the unique subgame perfect Nash equilibrium (USPNE) for "The Wheel" and test its predictive...

Trade and capital flows between Russia and the rest of the world are now significant for both partners. The economic reforms introduced in Russia since 1991 have converted an autarkic, highly regulated economy into a relatively open one. The dramatic change followed from the abolition of central...

This comprehensive Handbook provides a survey of all the major research areas in sports economics written by almost all of the active researchers in this field. It offers not only an accessible insight into the major findings of the literature but also presents some of the world’s...

This article analyzes the characteristics and incentive effects of contractual practices in professional boxing. A boxer's "purse" is linked to post rather than contemporaneous performance, thereby creating an incentives problem. Although consumption-smoothing considerations alleviate this...

Revenue-equivalence of competitive and discriminatory formats is a major result for private-value multiunit auctions with risk-neutral bidders. Among the factors that may cause this result to break down, the most notorious ones are risk-aversion, value-affiliation, and endogenous bidder...

The market microstructure chosen for foreign exchange markets can influence trading volumes and equilibrium exchange rates. With emerging markets and developing countries increasingly utilizing two- sided auctions, we show that the choice of the discrete 'tƒtonnement' auction creates incentives...

We take advantage of a naturally occurring experiment in a television game show to study the impact of group characteristics on the group's ability to select salient solutions in a matching game. The Family Feud features families seeking to earn prizes by matching the results of public opinion...

A bidding strategy commonly observed in Internet auctions, though not frequently in live auctions, is that of "jump-bidding," or entering a bid larger than necessary to be a current high bidder. In this paper, we argue that the cost associated with entering on-line bids and the uncertainty...