The productivity of individuals can be altered by cognitive environmental factors such as those that induce psychological pressure. The goal of this analysis is to determine the extent to which a selection of variables influences an individual’s perception of pressure and its subsequent effect on productivity. To do so, the performance of golfers under pressure on the PGA TOUR was proxied using the scrambling percentage statistic. Two regressions, one using data from players who were cut at the end of the second round and the other using data from players who were not cut at the end of the second round, were used to study how golfers’ scrambling percentage for a given round was influenced by changes in experience, time, rank, tournament prestige, and their expected future performance. An increase in variables representing tournament prestige, tournament round number, and player position on the leader board lead to an increase in pressure which in turn leads to poorer subsequent performance. On the other hand, an increase in player experience and the knowledge that a player would be cut at the end of the second round tend to decrease pressure and increase player performance.

The study of economics is based on key concepts such as incentives, efficiency, marginality and tradeoffs. Economic research has hypothesized and tested for how economic agents behave after taking each of these into account. In order for agents to meet their objectives it is sometimes the case that they intentionally keep their behaviors out of sight. However, economic theory can be used to search for patterns of observed behaviors from which the unobserved behaviors can be inferred. This dissertation performs this kind of analysis by observing the behavior of sports participants. Chapter 1 is an application of Becker's (1968) economic model of crime by using an econometric model to search for the presence of National Basketball Association (NBA) referees who bet on NBA games. The placement of these bets is not observed since a referee who bets on a game does so illegally and therefore hides his betting activity to prevent detection. A referee who places a bet on a game he also officiates has an incentive to manipulate to improve his chances of winning the bet. At the same time he should also be mindful to manipulate in a way that lowers his chances of being detected. The referee's observed behaviors through detailed play-by-play data are used to look for patterns hypothesized to be consistent with manipulation. The results suggest that former NBA referee Tim Donaghy, who was found to have bet on NBA games, did behave in ways consistent with manipulation. One other referee also appears to engage in the same type of behavior but stops once Donaghy is detected. Chapter 2 is an application of Fama's (1970) Efficient Market Hypothesis (EMH). Typically, the EMH is tested in the financial markets but some research tests for it in the sports betting markets so that the question becomes whether or not the betting market odds fully reflect all of the available relevant information. This chapter tests to see how completely National Football League (NFL) bettors use information called the circadian advantage. This occurs when a game is played in the evening, Eastern Time, between teams that are based on opposite coasts and always favors the better rested West Coast team. A regression model designed to test for market efficiency finds that the advantage is not fully reflected in the odds so that bets on the West Coast team are underpriced. In a majority of games that involve a circadian advantage most of the money is wagered on the overpriced East Coast team. A conclusion that ties these results together is that the bookmakers restrict the amount bet from informed bettors who tend to win their bets and who are aware of the circadian advantage, and adjust the odds just enough to bait uninformed bettors who are unaware of the circadian advantage into placing wagers on the team that is overpriced. Given these dynamics, it is the bookmakers who profit from the information contained in the circadian advantage. Chapter 3 revisits the NFL betting market but instead estimates the extent to which bettors place wagers based on sentiment for a team that is unrelated to relevant measures of relative performance along the lines of speculative investment outlined by Graham and Dodd in 1934 (2009). The results show that more bets tend to be placed on teams for which bettors have high sentiment and fewer bets are placed on teams for which bettors have low sentiment. However, the market odds appear to be using sentiment unbiasedly, leading to the conclusion that contrarian bettors place wagers opposite the sentimental bettors. While the market as a whole is efficient in the use of sentiment, losers tend to be bettors who wager with sentiment and winners tend to be bettors who wager against sentiment.

This paper improves upon the methods for modelling the determinants of PGA TOUR golfers’ performance-based earnings by incorporating the most recent and accurate PGA TOUR statistics while controlling for year and individual fixed effects. Using a panel of golfers from the 2004 through 2011 PGA TOUR seasons, I find that a one standard deviation improvement in putting renders the average golfer 27 percent additional earnings; meanwhile, the same degree of improvement in driving distance offers only 14 percent more earnings. Even as PGA TOUR golf course yardages and driving distances continue to grow, this study shows that improved driving distance yields are no greater than those to scrambling, greens in regulation, or strokes gained-putting.

This paper examines whether racial salary discrimination exists in the National Hockey League (NHL). I examine data from Hockey Reference and CapFriendly and find some evidence of racial salary discrimination, controlling for a rich set of demographic and performance characteristics. Specifically, when I solely control for race, I do not find any racial wage gap. This gap exists when I control for race and limited place of birth groups, however, the effect is wiped out by performance controls. When controlling for race and detailed place of birth groups, I find some evidence of a race gap even when controls for performance are included. Lastly, I discover that whites from all countries excluding the USA earn more than whites from the USA.

This paper uses empirical analysis to value of each section of the NFL Draft relative to the others in order to establish which NFL draft picks are undervalued. We crafted a new performance metric that uses the size of a given draftee’s second contract relative to his peers to evaluate his performance over the course of his previous contract. Using two OLS regressions, we predict the level of performance, given by our metric score, for each section of the draft. We then use the residuals from these regressions to investigate which sections of the draft are undervalued. The results show that mid-3rd round picks and late 5th round picks are the best value per dollar in the draft.

Recruiting is a major component of college football. Teams compete for recruits since the quality of a recruiting class contributes to on-field success. Previous studies have investigated the relationship between recruit quality and on-field performance and have found that a positive relationship exists. This thesis contributes to the literature by empirically examining how recruit quality affects team performance in the College Football Playoff (CFP) era using various measures of success. Panel data econometric models are used to determine the effect of recruits between schools, as well as within both conferences and schools on team performance. It also considers the validity of the use of an ex-ante star recruit rating as well as the hypothesis that team success each year will affect future success since high quality recruits are expected to choose teams with a history of winning. The results show that a direct relationship exists between recruit quality and team performance. Moreover, the results support that the ex-ante star rating is a predictor of athletic performance at the collegiate level and that high-quality recruits affect revenues generated by football programs.

The focus of this dissertation is imperfectly competitive sports labor markets and the effects of league labor policy on player mobility, compensation, and job location choice. The analyses conducted herein contributes primarily to a broad area of research within sports economics that generally uses changes in league labor rules to examine employer monopsony power and the validity of the Invariance Principle, which states that the distribution of playing talent in a sports league is invariant to the ownership of the rights to players’ services. After a critical review of the literature and some background on the National Basketball Association (NBA), a broad-to-narrow approach is used to present evidence from three empirical essays. Essay one examines the effects of 40 years’ worth of institutional change on competitive balance in the NBA. Essay two investigates the effects of more recent free agency rules on player mobility and pay. Finally, essay three narrows the focus a bit further to the effects of nonwage job characteristics on player wages and the implications of such nonwage attributes for player movement. / Tourism and Sport

Proper valuation of professional football clubs requires understanding and taking into account specific features of sports. Once we are familiar with the relevant issues and have reliable input information, we can determine appropriate valuation techniques, which shall respect purpose of the valuation alongside with any related specific features. Subsequent application of the valuation techniques determines the value of the club. Comparing results of various methods within one club, as well as between the clubs, may test reliability of the values. With regard to their status and importance, Manchester United FC and Arsenal FC are the clubs chosen for the analysis and valuation performed in this dissertation thesis. The workflow and logic above facilitates performing reliable valuations of selected teams, as well as drawing the guidelines and recommendations for the valuation of professional football clubs with regards to specifics in their financing and economic functioning.

The purpose of this thesis is to investigate the levels of interdependency (simultaneity) between the performances of two direct opponents in professional football. More specifically, interdependency between performances is investigated at three different levels. Firstly, empirical analyses are conducted in order to assess the levels of interdependency between the performances of two teams in direct competition using team-game observations. Secondly, data on team formations and player starting positions within these formations is utilised in order to uniquely match individual players to a sole opponent on the field of play. Further empirical analyses are then conducted in order to investigate the levels of interdependency at this more isolated individual player level using player-game observations. Finally, an empirical investigation into the levels of interdependency between the performances of a positional unit (defence or attack) and their opposing team (as a collective) is conducted using positional unit-game observations. An exclusive and detailed data set ranging from the 2007-08 season to the 2010-11 season is utilised in order to estimate several production functions for teams, individual players and positional units competing in the German Bundesliga. The results in all empirical analyses confirm that the performance of the opponent is significant. At a team and positional unit level, no evidence is found to suggest that the performances of two direct opponents(s) are interdependent, however the results reveal that the recent past performances of the opponent(s) have a significant linear impact upon the performance of the subject. In particular, relative team form going in to a match is revealed to have a significant impact upon the performance of their opponent. At an individual player level, evidence is found to confirm that the performances of players in direct competition are interdependent thus supporting the sports economics theory of joint production. Specifically, the results reveal that the performances of defenders have a significant and negative impact upon the performances of their opposing attackers.

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