In an environment in which elite, highly paid professionals compete for nonmonetary rewards, we find evidence of underperformance. Our analysis suggests that choking under pressure from high-stakes nonmonetary rewards is behind the underperformance. This implies that high stakes nonmonetary rewards can create meaningful pressure on individuals and lead to worse performance, a distinct issue that has yet to be adequately examined. These findings come from an examination of the behavior of top U.S. golfers competing to earn a place on the U.S. Ryder Cup team via their performance in PGA Tour tournaments with differing allocations of Ryder Cup qualifying points.
We find evidence that being a foreigner decreases the chances of surviving (i.e., keeping the license) on the first season on the PGA TOUR. This phenomenon does not affect all foreigners equally—it is present amongst the non-elite group (those playing the second-tier tour), but we found no evidence amongst the elite group (those playing the first-tier tour). We discover that the international experience acquired by foreigners in other circuits prior to their arrival on the PGA TOUR mitigates this disadvantage. Not keeping the card has hazardous financial consequences for both the golfer and the corporations whose products he endorses.
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