Over the past 20 years, state and provincial governments in North America have expanded legal gambling opportunities to consumers. One of the primary policy goals of this expansion of gambling opportunities has been to increase government revenues. Gambling is an attractive source of new...

Dana (2001) developed a model of price dispersion under demand uncertainty. The model predicts that, in the face of uncertain demand and inflexible prices, monopolists maximizes pro fits using ex ante price discrimination. We test the predictions of this model using a unique data set from Major...

The paper develops a quality adjusted professional sports franchise price index for North America based on a repeat sale method. This index reflects trends in the general price of sports franchises holding local market, facility, and team characteristics constant. The price index exhibits...

We examine the relationship between attendance, uncertainty of outcome, and team quality in the National Hockey League. Based on results from a reduced form model of attendance at 6054 regular season NHL games from 2005/06 to 2009/10, we find evidence that attendance increases when fans expect...

Health production models include participation in physical activity as an input. We investigate the relationship between participation in physical activity and health using a bivariate probit model. Participation is identifi ed with an exclusion restriction on a variable reflecting sense of...

Previous research on point spread betting assumed that bookmakers attract an equal volume of bets on either side of games in order to maximize profits. This paper examines the viability of this assumption from a theoretical and empirical perspective. The model of bookmaker behavior developed...