Template-type: ReDif-Paper 1.0 Author-Name: Mengel Friederike Author-workplace-name: METEOR Title: Never change a winning team: The effect of substitutions on success in football tournaments Abstract: We identify a strong and significant negative effect of substitutions in (irrelevant) early games in worldcup and olympic football tournaments on performance in later rounds. We argue that this effect is due to the psychological consequences of such a decision and evaluate alternative possible explanations. Keywords: Economics (Jel: A) Series: Research Memoranda Creation-Date: 2009 Number: 027 File-URL: http://arnop.unimaas.nl/show.cgi?fid=15462 File-Format: application/pdf File-Size: 392717 Handle: RePEc:unm:umamet:2009027