nep-spo New Economics Papers
on Sports and Economics
Issue of 2023‒07‒10
four papers chosen by
Humberto Barreto
DePauw University

  1. Theoretical and Practical Aspects Regarding the Commission of the Offence of Destruction by Participants in Sports Events By Nicoleta-Elena Heghes
  2. Not feeling the buzz: Correction study of mispricing and inefficiency in online sportsbooks By Lawrence Clegg; John Cartlidge
  3. Developing the Essential Skills for Making Quality Decisions By Saima Sadiq
  4. The anatomy of competitiveness By Thomas Buser; Hessel Oosterbeek

  1. By: Nicoleta-Elena Heghes (Andrei Rădulescu Legal Research Institute of Romanian Academy, Bucharest, Romania)
    Abstract: In the present paper, we analyze the crime of destruction - art. 253 of the Romanian Criminal Code, committed by participants in sports events. By criminalizing this act, the legislator wanted to ensure the protection of another's property, viewed from the perspective of his material condition. The participants in sports events, in our case the fans, support their favorite team or favorite athlete, but there are situations when some of them resort to actions of vandalizing stadiums, sports arenas, shops, bars, street furniture, parked cars, etc. There were cases when they used pyrotechnic materials prohibited by the current regulatory framework, threw various objects on the field, including broken seats from the stands, provoked acts of violence towards law enforcement, but also towards supporters of the opposing team, etc.
    Keywords: destruction, degradation, decommissioning, supporters
    Date: 2022–10
  2. By: Lawrence Clegg; John Cartlidge
    Abstract: We present a strict replication and correction of results published in a recent article (Ramirez, P., Reade, J.J., Singleton, C., Betting on a buzz: Mispricing and inefficiency in online sportsbooks, International Journal of Forecasting, 2022, doi:10.1016/j.ijforecast.2022.07.011). RRS introduced a novel "buzz factor" metric for tennis players, calculated as the log difference between the number of Wikipedia profile page views a player receives the day before a tennis match and the player's median number of daily profile views. The authors claim that their buzz factor metric is able to predict mispricing by bookmakers and they demonstrate that it can be used to form a profitable strategy for betting on tennis match outcomes. Here, we use the same dataset as RRS to reproduce their results exactly. However, we discover that the published results are significantly affected by a single bet (the "Hercog" bet) that returns substantial outlier profits; and these profits are generated by taking advantage of erroneously long odds in the out-of-sample test data. Once this data quality issue is addressed, we show that the strategy of RRS is no longer profitable in "practical" scenarios. Using an extended and cleaned dataset, we then perform further exploration of the models and show that the "impractical" betting strategy that uses best odds in the market remains profitable (in theory). However, evidence suggests that the vast majority of returns are generated by exploiting individual bookmaker's mispricing of odds relative to the market, and the novel buzz factor metric has negligible contribution to profits. We make all code and data available online.
    Date: 2023–05
  3. By: Saima Sadiq (Pakistan Institute of Development Economics)
    Abstract: Improving decision-making is relevant to everybody because it is your primary life skill. You can improve your life, business, and organization through your decision. We can improve our decision-making like we improve our skills, such as by playing a sport or any musical instrument.
    Date: 2023
  4. By: Thomas Buser (University of Amsterdam); Hessel Oosterbeek (University of Amsterdam)
    Abstract: A large empirical literature in behavioral economics investigates heterogeneity across individuals and groups in preferences for competition. In this study, we provide a more detailed view on competitiveness by differentiating between four different motivations for entering competitions – enjoyment of competition, desire to win, competition for personal development, and general challenge seeking. We investigate which of these dimensions are picked up by traditional measures of competitiveness; how they predict individual and gender differences in career outcomes including income, holding a leadership position, and entrepreneurship; how they predict wellbeing; and how they relate to other personality traits, skills, and preferences.
    Keywords: competitiveness, personality traits, labor market outcomes, leadership, gender
    JEL: C92 D91 J24

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