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Author Question: In professional golf, a tournament winner might win, say, 1 million, whereas second place wins only ... (Read 81 times)

karateprodigy

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In professional golf, a tournament winner might win, say, 1 million, whereas second place wins only 600,000. Why might golf have a 40 reduction in prize money from first and second place?
 
  A) To ensure that there is enough money to pay those who finish near last.
  B) To motivate golfers to take risks they might not otherwise take.
  C) To motivate golfers to not take risks they might otherwise take.
  D) The Professional Golfers Association is a cartel.

Question 2

Many professional sports athletes have incentive clauses in their contracts. These indicate that
 
  A) the team owner has asymmetric information.
  B) the athlete might engage in moral hazard, which the team owner wishes to avoid.
  C) the athlete might engage in adverse selection, which the team owner wishes to avoid.
  D) the athlete has stronger negotiators.


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Eazy416

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karateprodigy

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Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review


Bigfoot1984

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Reply 3 on: Yesterday
Excellent

 

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