Aging and Attitudes Towards Strategic Uncertainty and Competition: An Artefactual Field Experiment in a Swiss Bank

Thierry Madiès (), Marie Claire Villeval and Malgorzata Wasmer ()
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Thierry Madiès: UNIFR - Université de Fribourg = University of Fribourg

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Abstract: 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.

Keywords: Aging; risk; ambiguity; competitiveness; self-image; confidence; experiment (search for similar items in EconPapers)
Date: 2012-05-30
New Economics Papers: this item is included in nep-age, nep-cbe, nep-exp, nep-hrm and nep-upt
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00702579v1
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Working Paper: Aging and Attitudes Towards Strategic Uncertainty and Competition: An Artefactual Field Experiment in a Swiss Bank (2012)
Working Paper: Aging and Attitudes Towards Strategic Uncertainty and Competition: An Artefactual Field Experiment in a Swiss Bank (2012)
Working Paper: Aging and attitudes towards strategic uncertainty and competition: An artefactual field experiment in a Swiss bank (2011)
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