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on Cultural Economics |
| By: | Lahvicka, Jiri |
| Abstract: | The uncertainty of outcome hypothesis predicts that more balanced sports matches should attract higher attendances, but the empirical evidence is mixed at best. First, this article shows that the inconsistent findings in the literature could be explained by wrongly specified regressions. Second, a new approach to analyzing the effect of match uncertainty is proposed. Using data about nine seasons of the English Championship, the article shows that in a pair of matches where both home teams are slight favorites, a switch of the corresponding away teams would decrease the total attendance by several percent, while the opposite is true if both home teams are underdogs or strong favorites. These results suggest that attendance demand is a bell-shaped function of match balance that is maximized if teams of the same quality play against each other. |
| Keywords: | uncertainty of outcome; soccer; attendance demand |
| JEL: | D12 L83 |
| Date: | 2013–07–23 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:48571&r=cul |
| By: | Elaine Liu (University of Houston); Juanjuan Meng (Peking University Guanghua School of Management); Joseph Wang (National Taiwan University) |
| Abstract: | This paper investigates how Confucianism affects individual decision making in Taiwan and in China and whether the Cultural Revolution in China, which denounced Confucian teaching, has had a long-lasting impact. We found that Chinese subjects in our experiments became less accepting of Confucian values, such that they became more risk loving, less loss averse, and more impatient after being primed with Confucianism, whereas Taiwanese subjects became more trustworthy and more patient after being primed by Confucianism. Combining the evidence from the incentivized laboratory experiments and subjective survey measures, we found evidence that Chinese subjects and Taiwanese subjects reacted differently to Confucianism. |
| Keywords: | social norm, Confucianism, time preferences, risk aversion, trust |
| JEL: | C91 Z10 |
| Date: | 2013–07–18 |
| URL: | http://d.repec.org/n?u=RePEc:hou:wpaper:2013-199-49&r=cul |