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on Sports and Economics |
| By: | Marc Dubois (RQMP - Regroupement Québécois sur les Matériaux de Pointe - EPM - École Polytechnique de Montréal - Université de Sherbrooke [Sherbrooke] - McGill University - Université de Montréal [Montréal] - FQRNT - Fonds Québécois de Recherche sur la Nature et les Technologies) |
| Abstract: | The paper proposes a dominance criterion that assesses whether a seasonal outcome of a sports league is more imbalanced than another. This criterion, known as downward seasonal balance (DSB), is proposed as a strategy to measure competitive imbalance when the Lorenz criterion is inconclusive. The DSB criterion places at least as much emphasis on competitive imbalance between leading competitors as on imbalance occurring among the non-leading competitors. DSB is a novel third-order stochastic dominance defined on finite sets of evenly spaced seasonal points (seasonal grids). An empirical application provides comparisons of seasonal outcomes of the five most competitive soccer leagues in Europe. |
| Keywords: | Stochastic dominance,Lorenz criterion,Grids,Competitive imbalance |
| Date: | 2020–05–25 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-02617635&r=all |
| By: | Ehrmann, Michael; Jansen, David-Jan |
| Abstract: | This paper tests whether fluctuations in investors' attention affect stock return comovement with national and global markets, and which stocks are most affected. We measure fluctuations in investor attention using 59 high-profile soccer matches played during stock market trading hours at the three editions of the FIFA World Cup between 2010 and 2018. Using intraday data for more than 750 firms in 19 countries, we find that distracted investors shift attention away from firm-specific and from global news. When movements in global stock markets are large, the pricing of global news reverts back to normal, but firm-specific news keep being priced less, leading to increased comovement of stock returns with the national stock market. This increase is economically large, and particularly strong for those stocks that typically comove little with the national market, thereby leading to a convergence in betas across stocks. JEL Classification: G12, G15, G41 |
| Keywords: | comovement, investor attention, stock returns |
| Date: | 2020–05 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbwps:20202412&r=all |
| By: | Fischer, Mira; Rilke, Rainer Michael; Yurtoglu, B. Burcin |
| Abstract: | We analyze how the team formation process influences the ability composition and performance of teams, showing how self-selection and random assignment affect team performance for different tasks in two natural field experiments. We identify the collaboration intensity of the task as the key driver of the effect of self-selection on team performance. We find that when the task requires low collaborative efforts, the team performance of self-selected teams is significantly inferior to that of randomly assigned teams. When the task involves more collaborative efforts, self-selected teams tend to outperform randomly assigned teams. We observe assortative matching in self-selected teams, with subjects more likely to match with those of similar ability and the same gender. |
| Keywords: | Team Performance,Self-selection,Field Experiment,Education |
| JEL: | I21 M54 C93 |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:wzbmbh:spii2020201&r=all |