The sporting success of athletes and national teams is associated with a feel-good-factor among the population. These positive social effects can be regarded as public goods that entail a certain value for the population. The value of public or non-market goods can be estimated using the...

Several determinants of player values like productivity and human capital have been investigated in previous research; however, the influence of individual effort has been neglected. This study assumes that effort could be a signaling device and analyzes the effect of effort on market values of...