We show that professional soccer players exhibit reference-dependent behavior during matches. Controlling for the state of the match and for unobserved heterogeneity, we show on a minute-by-minute basis that a player breaches the rules of the game, measured by the referee's assignment of cards,...

We show that professional soccer players exhibit reference-dependent behavior during matches. Controlling for the state of the match and for unobserved heterogeneity, we show on a minute-by-minute basis that a player breaches the rules of the game, measured by the referee's assignment of cards,...

We show that professional soccer players and their coaches exhibit reference-dependent behavior during matches. Controlling for the state of the match and for unobserved heterogeneity, we show on a minute-by-minute basis that players breach the rules of the game, measured by the referee’s...

This paper contributes to the existing literature on media content and asset prices by analyzing the relationship between the adoption of media guidance and a personÕs propensity to buy stocks. We provide empirical evidence on this relationship while controlling for a broad range of individual...

We show that professional soccer players exhibit reference-dependent behavior during matches. Controlling for the state of the match and for unobserved heterogeneity, we show on a minute-by-minute basis that a player breaches the rules of the game, measured by the referee’s assignment of...

Recent studies of the demand for sports clearly indicate that stars play an important role in promoting fan interest. However, on theoretical grounds it is controversial if a starÕs talent superiority and/or a starÕs popularity drive match attendance and hence increase gate revenues. Using...

There is an on-going debate about the optimal degree of team solidarity in professional European soccer leagues. Support for a high degree of team solidarity has been coming from the theory of competitive balance. Within this theory, attendance has always been referred to as the endogenous...