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Incentives to Quit in Men’s Professional Tennis: An Empirical Test of Tournament Theory
By Will Walker This paper studies the influence of incentives on quitting behaviors in professional men’s tennis tournaments and offers broader implications to pay structures in the labor market. Precedent literature established that prize incentives and skill heterogeneity can impact player effort exertion. Prize incentives include prize money and indirect financial rewards (ranking points). Players […]
Determinants of Franchise Value in the National Basketball Association
By Matthew Van Liedekerke Franchise values in the National Basketball Association (NBA) have more than tripled over the last five years, with the average franchise worth $1.36 billion. Using panel data on NBA franchises between 2009 and 2016, this paper finds that market, performance, star players, and brand are significant determinants of franchise value at […]
Game Theory and The World Marathon Majors
By Benjamin Jones The World Marathon Majors (WMM) Series Prize was enacted in 2006 as a million dollar prize handed out annually to the top man and woman competing at five of the most important marathons. This paper considers the motivations behind setting up this prize, as well as the theoretical rationale for its existence […]
Mixed Strategy Equilibrium in Tennis Serves
by Joel Wiles Abstract A mixed strategy is a random choice among available strategies, with each strategy being chosen a set percentage of the time. In many games that require unpredictable play, game theory predicts that a mixed strategy equilibrium, a situation where each player uses an optimal mixed strategy, will result. Economists have tested […]
