Becoming unemployed has negative effects on life satisfaction; a transition from unemployment to employment, however, has only small positive effects. This asymmetry indicates a potential "omitted variable bias" in previous empirical happiness studies, with the consequence of underesti-mated...

The concept of competitive balance is a central aspect in the literature of sports economics. A popular argumentation of sport functionaries is that dominance of one or a few teams could lead to unequal incomes for the clubs, restrictions in the clubs' ability to improve sporting performance and...

We provide evidence for heterogeneous consumer preferences for product quality and game outcome uncertainty (GOU) in Major League Baseball. Using attendance data from 2013 to 2019, we explore functional data clustering techniques to detect common patterns in predictive margins of team-specific...

Using hedonic pricing models, this paper analyzes the impact of places of worship on the prices of adjacent condominiums in Hamburg, Germany. This is the first study on this subject to have been conducted outside the United States. It is also the first work to examine the externalities of places...

This paper is the first test of differences between age-related reductions in the performance of men and women. The assumption that men age faster is obvious, because men's life expectancy is generally lower. In addition to other studies on age-related reduction in human performance, this paper...

We conduct an innovative analysis of sporting world records by a) using economic instead of sporting determinants and b) by using multivariate stochastic frontier functions. Using data from 48 different disciplines between 1970 and 2014, we show that world records are close to full efficiency...

In this paper we develop a business cycle measure that can be shown to have excellent ex-ante forecasting properties for GDP growth. For identifying business cycle movements, we use a semantic approach. We infer nine different states of the economy directly from firms' responses in business...

The conditions under which European monetary policy is likely to be conducted are investigated by means of multi-variate time series modelling using aggregated data of all eleven European Monetary Union member states. A cointegration analysis identifies two stable long-run relationships, one of...