While one might expect athletes to be strongly averse to extending their career too long when there is a chance of losing everything due to a concussion or a catastrophic injury, experimental subjects consistently played longer than the optimal amount for risk-neutral decisions. A commitment to the length of play in advance, as in the case of long-term contracts, led to a greater chance of staying beyond the expected payoff-maximizing point. If the decision frame is altered so that decisions are made in each period rather than through an upfront commitment, the magnitude of potential losses is more evident.

中文翻译：

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什么时候走开和什么时候冒险

人们可能会期望运动员强烈反对在可能因脑震荡或灾难性伤害而失去一切的情况下将自己的职业生涯延长太久，但实验对象的玩法始终比风险中立决策的最佳时间长。与长期合同一样，提前保证工期会导致更大的机会保持在预期收益最大化点之外。如果改变决策框架，以便在每个阶段都做出决策，而不是通过预先承诺，则潜在损失的幅度将更加明显。