Download this Paper Open PDF in Browser

Who REALLY Wants To Be A Millionaire: Game Show Contestant Behavior Under Risk

Colorado College Working Paper No. 2005-02

26 Pages Posted: 15 Nov 2005  

Daniel K. N. Johnson

Colorado College - Department of Economics and Business

Tracy R. Gleason

Wellesley College - Psychology

Date Written: November 2005

Abstract

On the popular game show "Who Wants To Be A Millionaire", men appear to average higher winnings than women. This paper investigates potential reasons, including different uses of information sources (lifelines) and different perceptions of risk. We include gender-based tests of Kahneman and Tversky's prospect theory, but offer instead the counterintuitive conclusion that men are rewarded for acting slightly more cautiously than women do.

Keywords: risk, aversion, prospect theory, gender, Kahneman, Tversky, game show

JEL Classification: D1, D81, D83

Suggested Citation

Johnson, Daniel K. N. and Gleason, Tracy R., Who REALLY Wants To Be A Millionaire: Game Show Contestant Behavior Under Risk (November 2005). Colorado College Working Paper No. 2005-02. Available at SSRN: https://ssrn.com/abstract=847848 or http://dx.doi.org/10.2139/ssrn.847848

Daniel Kent Neil Johnson (Contact Author)

Colorado College - Department of Economics and Business ( email )

14 E Cache La Poudre Street
Colorado Springs, CO 80903
United States
719-389-6654 (Phone)
719-389-6927 (Fax)

HOME PAGE: http://faculty1.coloradocollege.edu/~djohnson

Tracy R. Gleason

Wellesley College - Psychology ( email )

Wellesley, MA 02181
United States

Paper statistics

Downloads
316
Rank
78,965
Abstract Views
5,400