Psychological pressure in competitive environments: Evidence from a randomized natural experiment

Much like cognitive abilities, emotional skills can have major effects on perfor mance and economic outcomes. This paper studies the behavior of professional subjects involved in a dynamic competition in their own natural environment. The setting is a penalty shoot-out in soccer where two teams compete in a tournament framework taking turns in a sequence of five penalty kicks each. As the kicking order is determined by the random outcome of a coin flip, the treatment and control groups are determined via explicit randomization. Therefore, absent any psychological effects, both teams should have the same probability of winning regardless of the kicking order. Yet, we find a systematic first-kicker advantage. Using data on 2,731 penalty kicks from 262 shoot-outs for a three decade period, we find that teams kicking first win the penalty shoot-out 60.5% of the time. A dynamic panel data analysis shows that the psychological mechanism underlying this result arises from the asymmetry in the partial score. As most kicks are scored, kicking first typically means having the opportunity to lead in the partial score, whereas kicking second typically means lagging in the score and having the opportunity to, at most, get even. Having a worse prospect than the opponent hinders subjects' performance. Further, we also find that professionals are self-aware of their own psychological effects. When a recent change in regulations gives winners of the coin toss the chance to choose the kicking order, they rationally react to it by systematically choosing to kick first. A survey of professional players reveals that when asked to explain why they prefer to kick first, they precisely identify the psychological mechanism for which we find empirical support in the data: they want “to lead in the score in order to put pressure on the opponent.”LeeX

Sustainable management: a strategic challenge for a global minerals and metals industry

This paper refers to the concept of sustainable management as the management approach which efficiently integrates economic, environmental and social issues into the operations of the minerals and metals industries, with the aim of creating long-term benefits for all stakeholders, and securing the support, cooperation, and trust of the local community. Among many other issues, sustainable management deals with strategy, responsible project feasibility decisions, managing for operational efficiency, improved risk management, enhanced stakeholder relationships, and corporate reputation. Overall, it deals with seeking long-term competitive advantages through responsible management of environmental and social issues. An essential requirement for sustainable management is the corporate commitment to the values of sustainability, but this is not sufficient. Also essential is the development of a business culture where sustainability is a high professional and business value. Furthermore, an organizational structure with specific roles and integration mechanisms and adequate management systems are also required. Regarding business culture, a well-established business code is a necessary but an insufficient condition. Sustainable management relies on individual ethical conduct and trust to foster full participation of stakeholders and to encourage commitment among them. It allows decision making at appropriate levels in the organization and encourages individual risk-taking for continuous improvement. Without trust, social licence is not achievable. In this paper, the concept of sustainable management is introduced as the management approach that integrates a business culture, strong leadership and an organizational structure that strives for long term economics benefits through sustainability. To achieve this goal, sustainability must be vertically integrated at three organizational levels (corporate, divisional and operational) and three functional levels (strategy, planning and implementation)

La estereotomía islámica: El Cairo

Las bóvedas islámicas del Cairo son cúpulas esféricas de piedra de extraordinaria calidad. Estas cúpulas están decoradas pro su exterior con dibujos de complicadas lacerías en relieve. La labra de esta decoración presenta retos geométricos interesante

Las bóvedas de crucería españolas s.XV y XVI

Título del trabajo presentado: Las bóvedas de crucería españolas S.XV y XVI Entidad organizadora: Sociedad Española de Historia de la Construcción Congreso: Tercer Congreso Nacional de Historia de la Construcció

Spanish ribbed vaults in the 15th and 16th centuries

Proceedings of the First International Congress on Construction History : Madrid, 20th-24th January 200

Las bóvedas de crucería rebajadas: criterios de diseño y construcción

Las bóvedas de crucería rebajadas, criterios de diseño y construcción. Cuarto Congreso Nacional de Historia de la Construcción. Cádiz. Vol. II, pags: 821-830. ISBN: 84-9728-149-7. Sociedad Española de Historia de la Construcció

La estereotomía de la esfera

La Estereotomía de la esfer

Juan de Álava, las bóvedas de crucería reticulares.

Juan de Álava, las bóvedas de crucería reticulares. Quinto Congreso Nacional de Historia de la Construcción, Burgos. Vol. II. Pags 725-732. ISBN. 978-84-9728-242. Sociedad Española de Historia de la Construcció