This paper employs data for the 1993-94 season to estimate a hedonic equation representing the determination of the price structure in the transfer market for professional players in the English football leagues. Player transfer proneness is modelled, and the Heckman two-step procedure is...

Privately observed ability increases output and reduces effort required to complete tasks, in a model where harder tasks produce more output. The relation between average quality of the workforce and the wage rate is ambiguous. The model also produces a rat-race, in the sense that some...

Several studies estimate the demand for watching English professional football (soccer) as highly inelastic, a puzzling result given that clubs appear to possess a degree of monopoly power. We discuss weaknesses in earlier studies and offer an alternative method of assessing elasticity based on...

Previous studies of attendance demand for professional team sports have failed to yield clear-cut findings on the importance of outcome uncertainty to consumers. But potentially fewer problems should arise in examining the link between outcome uncertainty and demand in the television market for...

The concept of rational expectations has typically been assumed, without testing, in the analysis of consumer demand and market efficiency in betting markets, including betting on lottery games. Lottery games offer an excellent opportunity to test how participants process the information that is...