Colorado College Working Paper No. 2005-02
26 Pages Posted: 15 Nov 2005
Date Written: November 2005
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: 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