Pub Date : 2022-03-08DOI: 10.1177/15270025221085716
Tim F. Thormann, Sebastian Gehrmann, P. Wicker
This study applies the wellbeing valuation approach to sport participation and volunteering using data from the German Socio-Economic Panel. Linear regression results show that sport and volunteering hours increase satisfaction with life, health, work, income, and leisure, but with diminishing returns in most models. In a seemingly unrelated regression, some of these effects turn insignificant. The instrumental variable estimates show causal impacts of sporting hours on all wellbeing measures, while volunteering only impacts health satisfaction. The monetary values vary depending on the type of wellbeing measure and estimator, indicating that future studies should consider the employed measures and estimators.
{"title":"The Wellbeing Valuation Approach: The Monetary Value of Sport Participation and Volunteering for Different Life Satisfaction Measures and Estimators","authors":"Tim F. Thormann, Sebastian Gehrmann, P. Wicker","doi":"10.1177/15270025221085716","DOIUrl":"https://doi.org/10.1177/15270025221085716","url":null,"abstract":"This study applies the wellbeing valuation approach to sport participation and volunteering using data from the German Socio-Economic Panel. Linear regression results show that sport and volunteering hours increase satisfaction with life, health, work, income, and leisure, but with diminishing returns in most models. In a seemingly unrelated regression, some of these effects turn insignificant. The instrumental variable estimates show causal impacts of sporting hours on all wellbeing measures, while volunteering only impacts health satisfaction. The monetary values vary depending on the type of wellbeing measure and estimator, indicating that future studies should consider the employed measures and estimators.","PeriodicalId":51522,"journal":{"name":"Journal of Sports Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2022-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44916598","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-02-18DOI: 10.1177/15270025211071042
Jonas Vandenbruaene, M. D. Ceuster, J. Annaert
Are simple trading strategies profitable? It is a question that has been on the minds of academics and practitioners for decades. In this paper, we review the longstanding literature on trading strategies in spread betting (also known as handicap betting), a popular sports betting microstructure. We review over 600 strategy implementations and find that market efficiency and systematic misperceptions are not mutually exclusive per se. Predictable glitches occur, but they are too small to be profitably exploited which is consistent with efficient markets. Furthermore, while controlling for data mining issues is becoming mainstream in finance, it has not yet made its way into this literature. We provide evidence that the hurdle rate of |z| > 3 which has been put forward in the broader finance literature should also be used in betting market research.
{"title":"Efficient Spread Betting Markets: A Literature Review","authors":"Jonas Vandenbruaene, M. D. Ceuster, J. Annaert","doi":"10.1177/15270025211071042","DOIUrl":"https://doi.org/10.1177/15270025211071042","url":null,"abstract":"Are simple trading strategies profitable? It is a question that has been on the minds of academics and practitioners for decades. In this paper, we review the longstanding literature on trading strategies in spread betting (also known as handicap betting), a popular sports betting microstructure. We review over 600 strategy implementations and find that market efficiency and systematic misperceptions are not mutually exclusive per se. Predictable glitches occur, but they are too small to be profitably exploited which is consistent with efficient markets. Furthermore, while controlling for data mining issues is becoming mainstream in finance, it has not yet made its way into this literature. We provide evidence that the hurdle rate of |z| > 3 which has been put forward in the broader finance literature should also be used in betting market research.","PeriodicalId":51522,"journal":{"name":"Journal of Sports Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2022-02-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47526335","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-02-15DOI: 10.1177/15270025221078009
Noah Sperling, Donald Vandegrift
This paper analyzes the effect of anthem protests on viewership for National Football League (NFL) games controlling for measures of NFL market-specific political beliefs and other demand determinants. To capture the effect of the protests on viewership, we create two classes of protests (unambiguous and ambiguous protests) and support the classification based on the meaning of the protest, actions by NFL owners, and statements by Donald Trump. Using data from all early and late-afternoon Sunday games from the 2014 through 2017 regular NFL seasons, we show that: (1) unambiguous protests reduce viewership in the week following the protests by about 15% while ambiguous protests do not generally produce statistically significant reductions in viewership; (2) the negative effect of unambiguous protests on viewership is particularly strong in metro locations that voted more heavily for Donald Trump in 2016; and (3) following Donald Trump's statements in week 3 of the 2017 season, both ambiguous and unambiguous protests increased and the increase in ambiguous protests was particularly large.
{"title":"Anthem Protests, Viewer Politics, and the Demand for NFL Games: Assessing the Impact of National Anthem Protests on Viewership","authors":"Noah Sperling, Donald Vandegrift","doi":"10.1177/15270025221078009","DOIUrl":"https://doi.org/10.1177/15270025221078009","url":null,"abstract":"This paper analyzes the effect of anthem protests on viewership for National Football League (NFL) games controlling for measures of NFL market-specific political beliefs and other demand determinants. To capture the effect of the protests on viewership, we create two classes of protests (unambiguous and ambiguous protests) and support the classification based on the meaning of the protest, actions by NFL owners, and statements by Donald Trump. Using data from all early and late-afternoon Sunday games from the 2014 through 2017 regular NFL seasons, we show that: (1) unambiguous protests reduce viewership in the week following the protests by about 15% while ambiguous protests do not generally produce statistically significant reductions in viewership; (2) the negative effect of unambiguous protests on viewership is particularly strong in metro locations that voted more heavily for Donald Trump in 2016; and (3) following Donald Trump's statements in week 3 of the 2017 season, both ambiguous and unambiguous protests increased and the increase in ambiguous protests was particularly large.","PeriodicalId":51522,"journal":{"name":"Journal of Sports Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2022-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44625997","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-31DOI: 10.1177/15270025211071028
Lena Neuberg, Stefan Thiem
This paper analyzes the risk-taking behavior of heterogeneous players in dynamic contests with intermediate information. Using data from the first German Handball league, we measure risk-taking by substituting the goalkeeper for an additional field player. By differentiating between ex-ante and in-game heterogeneity, we show that underdogs and trailing teams are willing to take more risks and that favourites and underdogs react differently to interim information. Trailing underdogs choose riskier strategies than trailing favorites during a match. The increased overall risk-taking is indeed beneficial for underdogs, whereas favourites lose significantly more games as a result of increased risk-taking.
{"title":"Risk-taking in contests with heterogeneous players and intermediate Information—Evidence from handball","authors":"Lena Neuberg, Stefan Thiem","doi":"10.1177/15270025211071028","DOIUrl":"https://doi.org/10.1177/15270025211071028","url":null,"abstract":"This paper analyzes the risk-taking behavior of heterogeneous players in dynamic contests with intermediate information. Using data from the first German Handball league, we measure risk-taking by substituting the goalkeeper for an additional field player. By differentiating between ex-ante and in-game heterogeneity, we show that underdogs and trailing teams are willing to take more risks and that favourites and underdogs react differently to interim information. Trailing underdogs choose riskier strategies than trailing favorites during a match. The increased overall risk-taking is indeed beneficial for underdogs, whereas favourites lose significantly more games as a result of increased risk-taking.","PeriodicalId":51522,"journal":{"name":"Journal of Sports Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2022-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"65412567","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-20DOI: 10.1177/15270025221074692
Stacey L. Brook
Previous research examines the impact college athletic success has on state appropriations, donations, student applications, and academic reputation, but not on the impact college athletic success has on an individual athletic program directly. Since nearly 70% of post-season bowl game Football Bowl Subdivision (FBS) participants incur bowl game financial losses, are there future benefits from post-season bowl game participation for the football program? The empirical results show prior post-season bowl participation has positive impacts on current recruiting and revenues, but not performance. Finally, 92% of programs cover their current bowl game financial losses from higher future variable revenues attributed to current bowl participation.
{"title":"What is the Impact of Post-Season Bowl Participation on a Football Program's On-Field Success, Recruiting and Revenues?","authors":"Stacey L. Brook","doi":"10.1177/15270025221074692","DOIUrl":"https://doi.org/10.1177/15270025221074692","url":null,"abstract":"Previous research examines the impact college athletic success has on state appropriations, donations, student applications, and academic reputation, but not on the impact college athletic success has on an individual athletic program directly. Since nearly 70% of post-season bowl game Football Bowl Subdivision (FBS) participants incur bowl game financial losses, are there future benefits from post-season bowl game participation for the football program? The empirical results show prior post-season bowl participation has positive impacts on current recruiting and revenues, but not performance. Finally, 92% of programs cover their current bowl game financial losses from higher future variable revenues attributed to current bowl participation.","PeriodicalId":51522,"journal":{"name":"Journal of Sports Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2022-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48905456","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-12DOI: 10.1177/15270025211059533
R. Böheim, Mario Lackner, Wilhelm Wagner
We investigate the risk-taking behavior of women and men in high-stakes jumping competitions. Results indicated that female and male athletes differ in the timing and extent of their reactions to an increase in the risk of failure. Male competitors increased risk-taking in the more risky environment immediately after the changes. Female athletes, however, increased risk-taking two years after the rule change. Over time, female athletes revert to pre-reform risk-taking levels, and male athletes’ continued to make more risky decisions in the new environment. We attribute our findings to gender differences in competitiveness and risk preferences.
{"title":"Raising the Bar: Causal Evidence on Gender Differences in Risk-Taking From a Natural Experiment","authors":"R. Böheim, Mario Lackner, Wilhelm Wagner","doi":"10.1177/15270025211059533","DOIUrl":"https://doi.org/10.1177/15270025211059533","url":null,"abstract":"We investigate the risk-taking behavior of women and men in high-stakes jumping competitions. Results indicated that female and male athletes differ in the timing and extent of their reactions to an increase in the risk of failure. Male competitors increased risk-taking in the more risky environment immediately after the changes. Female athletes, however, increased risk-taking two years after the rule change. Over time, female athletes revert to pre-reform risk-taking levels, and male athletes’ continued to make more risky decisions in the new environment. We attribute our findings to gender differences in competitiveness and risk preferences.","PeriodicalId":51522,"journal":{"name":"Journal of Sports Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2022-01-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42464710","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-07DOI: 10.1177/15270025211067795
Dirk Semmelroth, B. Frick, R. Simmons, H. Sung
Using a large dataset with over 4,000 game-level observations from Major League Soccer over the period 2006 to 2019 we investigate the determinants of attendance demand. Focusing on franchise expansion and location effects, we find that some decisions made by the organization had positive impacts on league revenues. While going to cities with a large population and already hosting nearby NFL or NBA teams is positively associated with game attendance, the presence of geographically close MLB and NHL teams is detrimental to MLS revenues. Our results suggest a need for a more nuanced and selective approach to MLS expansion policy.
{"title":"Where to Go Next? Examining the Effect of Franchise Expansion and Location on Game-Level Attendance in Major League Soccer","authors":"Dirk Semmelroth, B. Frick, R. Simmons, H. Sung","doi":"10.1177/15270025211067795","DOIUrl":"https://doi.org/10.1177/15270025211067795","url":null,"abstract":"Using a large dataset with over 4,000 game-level observations from Major League Soccer over the period 2006 to 2019 we investigate the determinants of attendance demand. Focusing on franchise expansion and location effects, we find that some decisions made by the organization had positive impacts on league revenues. While going to cities with a large population and already hosting nearby NFL or NBA teams is positively associated with game attendance, the presence of geographically close MLB and NHL teams is detrimental to MLS revenues. Our results suggest a need for a more nuanced and selective approach to MLS expansion policy.","PeriodicalId":51522,"journal":{"name":"Journal of Sports Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2022-01-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41436555","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-01-04DOI: 10.1177/15270025211071029
M. Kobierecki, Michał Pierzgalski
This paper contributes to the current literature investigating whether hosting sports mega-events brings tangible economic benefits to the host country. Specifically, we examine whether staging the Olympic Games and the FIFA World Cups leads to observable economic growth. The research has been conducted through a quasi-experimental study in the spirit of the difference-in-differences method. The research subject includes states in which the Olympic Games and FIFA World Cup were held between 2010 and 2016: Canada, South Africa, Great Britain, and Brazil. We found that there is no significant effect of hosting sports mega-events on economic growth.
{"title":"Sports Mega-Events and Economic Growth: A Synthetic Control Approach","authors":"M. Kobierecki, Michał Pierzgalski","doi":"10.1177/15270025211071029","DOIUrl":"https://doi.org/10.1177/15270025211071029","url":null,"abstract":"This paper contributes to the current literature investigating whether hosting sports mega-events brings tangible economic benefits to the host country. Specifically, we examine whether staging the Olympic Games and the FIFA World Cups leads to observable economic growth. The research has been conducted through a quasi-experimental study in the spirit of the difference-in-differences method. The research subject includes states in which the Olympic Games and FIFA World Cup were held between 2010 and 2016: Canada, South Africa, Great Britain, and Brazil. We found that there is no significant effect of hosting sports mega-events on economic growth.","PeriodicalId":51522,"journal":{"name":"Journal of Sports Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2022-01-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44995839","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-30DOI: 10.1177/15270025211071026
Joxe Maria Barrutiabengoa, P. Corredor, L. Muga
This research addresses the importance of gender in the pricing process of the sports betting industry. Specifically, we investigate the impact of gender in the prices that bookmakers offer for tennis matches. Despite widespread evidence of gender bias both in the practice of the sport and its media coverage, tennis is one of the sports that has done most to achieve equality. The analysis of 51,881 tennis matches reveals that betting firms quote higher prices for women's matches than for men's, even when considering uncertainty due to the surprise factor and the media attention. The separate analysis of two bookmakers strengthens the evidence for the role of media attention as a source of gender-related information asymmetry.
{"title":"Does The Betting Industry Price Gender? Evidence from Professional Tennis","authors":"Joxe Maria Barrutiabengoa, P. Corredor, L. Muga","doi":"10.1177/15270025211071026","DOIUrl":"https://doi.org/10.1177/15270025211071026","url":null,"abstract":"This research addresses the importance of gender in the pricing process of the sports betting industry. Specifically, we investigate the impact of gender in the prices that bookmakers offer for tennis matches. Despite widespread evidence of gender bias both in the practice of the sport and its media coverage, tennis is one of the sports that has done most to achieve equality. The analysis of 51,881 tennis matches reveals that betting firms quote higher prices for women's matches than for men's, even when considering uncertainty due to the surprise factor and the media attention. The separate analysis of two bookmakers strengthens the evidence for the role of media attention as a source of gender-related information asymmetry.","PeriodicalId":51522,"journal":{"name":"Journal of Sports Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2021-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48842902","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2021-12-27DOI: 10.1177/15270025211067786
V. Alfano
Anecdotal evidence suggests that football matches may have played a role in the spread of COVID-19 all over Europe. Nevertheless, from a scientific point of view, the impact of football matches on the spread of COVID-19 remains unclear. In this paper we study, via a quantitative analysis, the case of Italy, a country badly affected by COVID, and one where attending football matches is very popular. We consider the impact of matches played in January and February 2020 on the dynamic of the pandemic in March and April the same year. Our results, which consider all levels of Italian professional football, and the highest level of amateur football, show that matches played in January and February had an impact on the evolution of the pandemic in March and April. These results suggest that great care must be taken before considering re-opening stadia.
{"title":"COVID-19 Diffusion Before Awareness: The Role of Football Match Attendance in Italy","authors":"V. Alfano","doi":"10.1177/15270025211067786","DOIUrl":"https://doi.org/10.1177/15270025211067786","url":null,"abstract":"Anecdotal evidence suggests that football matches may have played a role in the spread of COVID-19 all over Europe. Nevertheless, from a scientific point of view, the impact of football matches on the spread of COVID-19 remains unclear. In this paper we study, via a quantitative analysis, the case of Italy, a country badly affected by COVID, and one where attending football matches is very popular. We consider the impact of matches played in January and February 2020 on the dynamic of the pandemic in March and April the same year. Our results, which consider all levels of Italian professional football, and the highest level of amateur football, show that matches played in January and February had an impact on the evolution of the pandemic in March and April. These results suggest that great care must be taken before considering re-opening stadia.","PeriodicalId":51522,"journal":{"name":"Journal of Sports Economics","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2021-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44919858","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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