Brad Humphreys | West Virginia University

Brad Humphreys

West Virginia University, Economics, Faculty Member

West Virginia University, Economics, Faculty Member |

Sports economics

Address: 1601 University Ave, Box 6025
Morgantown, WV 26505-6025

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336 Followers | 7 Following | 7 Co-authors | —Total Views

Books

Sports facilities, agglomeration, and public subsidies

We develop a monopolistic competition model of urban service consumption and production that incl... more We develop a monopolistic competition model of urban service consumption and production that includes spatial structure and property values. The model shows that the introduction of a new professional sports facility and team generates agglomeration effects that change the mix of services and property values, and increases local welfare, part of which is transferred to the team as subsidies for the construction of the facility. The distri-butional consequences of the new facility and the implications of property tax based financing for the subsidy are analyzed.

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The Economics Of Sport, Health And Happiness

Including an array of distinguished contributors, this novel book fills a gap in the literature b... more Including an array of distinguished contributors, this novel book fills a gap in the literature by addressing an important, yet under-researched, issue in the field of sports economics. It places great emphasis on the notion that sport is a significant component for improving the happiness, health and well-being of citizens, communities and society as a whole. In so doing, it addresses whether, in an environment of increasing pressure on public spending, governments should continue to subsidize sporting activities at the expense of other public resources.

The Business of Sport

The sports industry is large, visible, and growing—and it has a huge impact on society. That's ob... more The sports industry is large, visible, and growing—and it has a huge impact on society. That's obvious to die-hard fans who not only watch sporting events but buy everything from balls to ties to paperweights with their favorite team's logo. But even sports haters can't escape the onslaught of professional sports: They are asked to chip in as taxpayers to build public stadiums, and their children are, like it or not, exposed to events sponsored by alcohol and tobacco companies, not to mention the juvenile antics of star athletes. Businesses, of course, take a hit in productivity when the Olympics—or World Series or Super Bowl or World Cup—rolls around. Yet most of us love to watch, and play. The Business of Sports takes on this endlessly fascinating behemoth of an industry to make sense of it all.||Yes, sports is big business. How big? Estimates of total annual U.S. spending on sporting goods and services range from $250 to $560 billion a year, and spending related to organized sport alone has been estimated at $200 billion per year. And it's getting bigger, casting an ever-larger shadow over the entire globe. The Business of Sports throws light on the subject by exploring the business and economic dynamics of the industry from a diverse array of perspectives that cover the industry's macroeconomic, management, and marketing/promotion issues. —Volume 1, Perspectives on the Sports Industry, documents the current size, scope, and magnitude of the sports industry in the U.S. and abroad—including the U.K. and China. It also examines the importance of the world's most visible sporting events, like the Olympics, and the impact of sporting events broadcast around the world. —Volume 2, Economic Perspectives on Sport, takes an in-depth look at the sports industry from an economic perspective. The volume delves into the inner workings of leagues and teams, covering economic issues from the design of sports leagues to franchise financial valuations to salary caps to labor relations. —Volume 3, Bridging Research and Practice, fills the gap between scholarly research on sport and practitioners working in the industry. Topics include evaluating talent, maintaining managerial efficiency, analyzing statistical performance indices, and assessing the noneconomic benefits of professional sports. Business and sports are a potent mix of two of the strongest forces moving our society today. And, as the stratospheric salaries of professional athletes indicate, the industry is going through major growth and change. To make sense of it all, it helps to understand the underlying economic principles driving the business decisions made daily by owners and managers in all corners of the world. The unique, multivolume format of The Business of Sports allows sports nuts, journalists, business people, and students to explore the wide variety of issues that fuel the world's crazy passion for all things athletic.

Papers

The Impact of the Global Financial Crisis on Sport in North America

Optimal Strategies in Sports Economics and Management, 2010

Beginning in early 2007 the global economy entered into a tumultuous period of contraction in rea... more Beginning in early 2007 the global economy entered into a tumultuous period of contraction in real economic activity and disruption in financial markets. This paper explores the effect of the recession and financial crisis that began in mid 2007 on professional sports leagues in North America. While attendance and franchise values declined slightly, and a few teams experienced financial problems, the nature of the sport product and institutional factors associated with the sports industry have, so far, insulted professional sport from significant ...

New casinos and local labor markets: Evidence from Canada

Labour Economics, 2013

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Game importance as a dimension of uncertainty of outcome

Journal of Quantitative Analysis in Sports, 2000

Abstract Sports teams have incentives to put more effort into games with an immediate effect on s... more Abstract Sports teams have incentives to put more effort into games with an immediate effect on standings compared to games that do not, possibly affecting outcome uncertainty. We develop a measure of game outcome uncertainty, game importance (GI), that captures how each game affects a team&amp;amp;amp;#x27;s standing and can be calculated for individual games. Results show that observed variation in GI explains observed variation in attendance, game outcomes, and margin of victory at MLB games over the 1994 through 2010 seasons, ...

Earnings and Performance in Women's Professional Alpine Skiing

We test the predictions of tournament theory using data from competitions in the FIS Alpine Skiin... more We test the predictions of tournament theory using data from competitions in the FIS Alpine Skiing World Cup. Based on data from more than 60 Giant Slalom and Downhill events held over the period 2001-2010, female professional Alpine skiers respond to tournament incentives; times in both events were faster in events with a larger spread in the prize distribution when controlling for course characteristics and the number of contestants in the race. In this setting women engage in vigorous competition in response to monetary ...

Adolescent Steroid Use and Intercollegiate Athletic Incentives

Sports Facilities, Agglomeration, and Urban Redevelopment

Working Papers, Apr 19, 2013

Price Setting in the NBA Gambling Market: Tests of the Levitt Model of Sportsbook Behavior

International Journal of Sport Finance, 2008

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Bettor Belief in the â€œHot Handâ€

Journal of Sports Economics, 2014

Do Urban Casinos Affect Nearby Neighborhoods? Evidence from Canada

Working Papers, Mar 1, 2014

The Spatial Impact of Professional Sports Facilities on Residential Housing Values: Evidence from Census Block-Group Data

By Xia Feng and Brad Humphreys; The Spatial Impact of Professional Sports Facilities on Residenti... more

Special Issue: Sport finance and gambling

International Journal of Sport Finance, 2008

Bettor Biases and the ‘Home-Underdog’ Bias in the NFL

International Journal of Sport Finance, 2013

How Does Labor Market Discrimination Afiect Capital Investment? The Efiects of Fan Discrimination on Stadium Investment

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Special Issue: Communities and sport finance: new perspectives

International Journal of Sport Finance, 2006

New Evidence on Consumer Spending on Gambling

Abstract: Characteristics of households who participate in gambling markets in the US, and the de... more Abstract: Characteristics of households who participate in gambling markets in the US, and the determinants of household expenditure on gambling, are investigated using data from the Consumer Expenditure Survey (CEX). I estimate empirical models of participation in gambling markets and gambling expenditure using Tobit and double hurdle estimators. A likelihood ratio test rejects Tobit in favor of the double hurdle model. The double hurdle model estimates show that key explanatory variables affect participation and expenditure ...

Reference-dependent preferences, team relocations, and major league expansion

Journal of Economic Behavior & Organization, 2015

ABSTRACT Professional sports teams receive large subsidies, some in excess of $500 million, from ... more ABSTRACT Professional sports teams receive large subsidies, some in excess of $500 million, from local governments for the construction of new facilities. These subsidies cannot be explained by tangible economic benefits, and estimates of the value of intangible benefits also fall short of typical subsidies. In this paper, we incorporate fans’ reference-dependent preferences into a model of the bargaining between local governments and teams. The model predicts that teams use relocation threats to exploit fans’ utility loss from team departures, a negative deviation from the status quo, to extract large subsidies from local governments. Fans’ loss aversion provides an explanation of the current team distribution, and observed team relocation and league expansion decisions in North America. The model also highlights the importance of anti-trust exemptions of the leagues in creating credible relocation threats for existing teams.

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Competition Between Sports Leagues: Theory and Evidence on Rival League Formation in North America

Review of Industrial Organization, 2014

We analyze the formation of rival leagues in professional team sports, one of the least studied f... more We analyze the formation of rival leagues in professional team sports, one of the least studied forms of competition in sport. We survey the economic history of professional sports leagues in North America and develop stylized facts about rival league formation and develop a game-theoretic model of entry of a rival league to an existing market to explain these stylized facts. This model accounts for the strategic interaction between the incumbent and rival league and costs associated with acquiring new players from the incumbent ...

Sports facilities, agglomeration, and public subsidies

Download

The Economics Of Sport, Health And Happiness

The Business of Sport

The Impact of the Global Financial Crisis on Sport in North America

Optimal Strategies in Sports Economics and Management, 2010

New casinos and local labor markets: Evidence from Canada

Labour Economics, 2013

Download

Game importance as a dimension of uncertainty of outcome

Journal of Quantitative Analysis in Sports, 2000

Earnings and Performance in Women's Professional Alpine Skiing

Adolescent Steroid Use and Intercollegiate Athletic Incentives

Sports Facilities, Agglomeration, and Urban Redevelopment

Working Papers, Apr 19, 2013

Price Setting in the NBA Gambling Market: Tests of the Levitt Model of Sportsbook Behavior

International Journal of Sport Finance, 2008

Download

Bettor Belief in the â€œHot Handâ€

Journal of Sports Economics, 2014

Do Urban Casinos Affect Nearby Neighborhoods? Evidence from Canada

Working Papers, Mar 1, 2014

The Spatial Impact of Professional Sports Facilities on Residential Housing Values: Evidence from Census Block-Group Data

By Xia Feng and Brad Humphreys; The Spatial Impact of Professional Sports Facilities on Residenti... more

Special Issue: Sport finance and gambling

International Journal of Sport Finance, 2008

Bettor Biases and the ‘Home-Underdog’ Bias in the NFL

International Journal of Sport Finance, 2013

How Does Labor Market Discrimination Afiect Capital Investment? The Efiects of Fan Discrimination on Stadium Investment

Download

Special Issue: Communities and sport finance: new perspectives

International Journal of Sport Finance, 2006

New Evidence on Consumer Spending on Gambling

Reference-dependent preferences, team relocations, and major league expansion

Journal of Economic Behavior & Organization, 2015

Download

Competition Between Sports Leagues: Theory and Evidence on Rival League Formation in North America

Review of Industrial Organization, 2014

Communities and Sport Finance: New Perspectives

Research on the effect of sport on communities, specifically on the economics and financing of sp... more Research on the effect of sport on communities, specifically on the economics and financing of sports facilities and their relationship to communities, has emerged as an important area of research in sports economics and finance over the past decade. Part of this increased interest may be attributed to an increase in the importance of sport in society; part may be attributed to the perception among key local stakeholders that sports are a viable local economic development tool. This special issue of the International Journal of Sport ...

The History and Formation of East Asian Sports Leagues

Sports Economics, Management and Policy, 2014

Uncertainty of Outcome and Attendance in College Football: Evidence from Four Conferences

The Economic and Labour Relations Review, 2012

The relationship between the uncertainty of outcome hypothesis (UOH), where fans prefer games tha... more The relationship between the uncertainty of outcome hypothesis (UOH), where fans prefer games that are expected to be closely contested, and attendance is investigated in four non-AQ football conferences. The teams in these smaller conferences play games against each other and against bigger, more prominent schools in the elite AQ conferences. Using the betting market point spread as a proxy for uncertainty of outcome, two key points concerning the UOH emerge: college football fans in these conferences prefer less uncertainty of ...

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