REFERENCE-DEPENDENT PREFERENCES, LOSS AVERSION, AND LIVE GAME ATTENDANCE

被引：160

作者：

Coates, Dennis ^{[1
]}

Humphreys, Brad R. ^{[2
]}

Zhou, Li ^{[3
]}

机构：

[1] UMBC, Dept Econ, Baltimore, MD 21250 USA

[2] W Virginia Univ, Dept Econ, Morgantown, WV 26506 USA

[3] Univ Alberta, Dept Econ, Edmonton, AB T6G 2H4, Canada

来源：

ECONOMIC INQUIRY | 2014年 / 52卷 / 03期

关键词：

OUTCOME UNCERTAINTY; COMPETITIVE BALANCE; PROFESSIONAL SPORTS; DEMAND; ECONOMICS; FOOTBALL; EXPECTATIONS; VALUATION; DECISION; MODEL;

D O I：

10.1111/ecin.12061

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We develop a consumer choice model of live attendance at a sporting event with reference-dependent preferences. The predictions of the model motivate the uncertainty of outcome hypothesis (UOH) as well as fans' desire to see upsets and to simply see the home team win games, depending on the importance of the reference-dependent preferences and loss aversion. A critical review of previous empirical tests of the UOH reveals significant support for models with reference-dependent preferences, but less support for the UOH. New empirical evidence from Major League Baseball supports the loss aversion version of the model. (JEL L83, D12)

引用

页码：959 / 973

页数：15

共 45 条

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