Managerial behavior in fund tournaments—the impact of TrueSkill
Loading...
Date
2021-01-09
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
Measuring mutual fund managers’ skills by Microsoft’s TrueSkill algorithm, we find highly skilled managers to behave self-confident resulting in higher risk-taking in the second half of the year compared to less skilled managers. Introducing the TrueSkill algorithm, which is widely used in the e-sports community, to this branch of literature, we can replicate previous findings and theories suggesting overconfidence for mid-years winners.
Description
Table of contents
Keywords
Fund tournament, Skill, Risk-shifting, TrueSkill, Bayesian network