Research

Battle of the Sexes, exhibition tennis match between Billie Jean King and Bobby Riggs, September 20, 1973

A game of status: gender asymmetry in loss aversion

This study examines gender differences in loss aversion, focusing on the fear of losing status. Using data from more than 14,000 Grand Slam matches in professional tennis, I introduce a novel measure—the Net Tournament Balance (NTB), which captures the number of points a player must earn to maintain their current total ranking points. To identify causal effects of placement in the “loss” domain on performance, I employ a regression discontinuity design. The results reveal a striking gender difference: male players exhibit strong loss aversion to status. They are significantly more likely to win matches and adopt a more aggressive playing style when they face the threat of falling in ranking points, consistent with the predictions of prospect theory. In contrast, female players show no comparable behavioral adjustment, highlighting a clear gender asymmetry in responses to potential status loss. Additional analysis suggests that culture, social norms, and identity may help explain why male players are more sensitive to status loss. 

[Slides]