The impact of pressure on performance: Evidence from the PGA TOUR

•First non-experimental study to examine the impact of monetary pressure on performance.•We develop a variable associating monetary value with a specific individual task.•Results indicate professional athletes underperform when facing increased pressure.•Pressure has a greater negative effect on les...

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Bibliographic Details
Published in:Journal of economic behavior & organization 2015-08, Vol.116, p.319-330
Main Authors: Hickman, Daniel C., Metz, Neil E.
Format: Article
Language:English
Subjects:
Choking
D03
Earnings
Economic behaviour
Economic calculations
Economic performance
Human performance
J33
L83
Money
Performance incentives
Probability
Professional golf
Psychological pressure
Rewards
Stress
Studies
Tournaments & championships
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Summary:•First non-experimental study to examine the impact of monetary pressure on performance.•We develop a variable associating monetary value with a specific individual task.•Results indicate professional athletes underperform when facing increased pressure.•Pressure has a greater negative effect on less experienced players.•Players tend to underperform on tasks with most uncertain outcomes. Do large rewards lead to psychological pressure causing underperformance? Previous studies have tested this ‘choking’ phenomenon using the world of sports, but such studies often lack an explicit link between performance and reward. This study utilizes a large PGA TOUR dataset to more directly analyze the effect of pressure on individual performance by calculating the potential change in earnings from making or missing a putt on the final hole of a tournament. We find that as the amount of money riding on a shot increases, the likelihood that shot is made is significantly reduced.
ISSN:0167-2681
1879-1751
DOI:10.1016/j.jebo.2015.04.007