Essays in Economics of Sports

Informace o vysokoškolské kvalifikační práci

Název práce:
Essays in Economics of Sports
Autor práce:
Lahvička, Jiří
Typ práce:
Disertační práce / info:eu-repo/semantics/doctoralThesis
Vedoucí práce:
Chytil, Zdeněk
Osoba oponující práci:
Schwarz, Jiří; Pertold Gebická, Barbara
Jazyk práce:
This dissertation consists of five articles about economics of sports. The first three articles investigate various types of outcome uncertainty and how they relate to match attendance demand, while the remaining two articles test the efficiency of sports betting markets. The first article presents a new method of calculating match importance. Unlike the previous approaches in the literature, it does not require ex-post information and can be used for any type of season outcome. The second article shows that the additional playoff stage in the Czech ice hockey "Extraliga" lowers the probability of the strongest team becoming a champion and thus increases seasonal uncertainty. The third article demonstrates that the inconsistent findings in the literature about the link between match uncertainty and attendance could be explained by wrongly specified regressions, proposes a new approach to analyzing the effect of match uncertainty and shows that attendance demand is maximized if teams of the same quality play against each other. The fourth article examines the favorite-longshot bias in the context of betting on tennis matches. It shows that the favorite-longshot bias pattern is consistent with bookmakers protecting themselves against both better informed insiders and the general public exploiting new information. The fifth article investigates the supposedly profitable strategy of betting on soccer draws using the Fibonacci sequence. The strategy is tested both in a simulated market and on a real data set and found to lose money.
Klíčová slova:
uncertainty of outcome; match uncertainty; match importance; Fibonacci betting strategy; favorite-longshot bias; market efficiency; sports betting; Monte Carlo; tournament design; tennis; ice hockey; soccer; attendance demand; seasonal uncertainty

Informace o studiu

Studijní program a Studijní obor:
Ekonomie a hospodářská správa/Ekonomická teorie
Typ studijního programu:
Doktorský studijní program
Jméno přidělované hodnosti:
Instituce přidělující hodnost:
University of Economics, Prague
Název fakulty:
Faculty of Economics
Název katedry:
Department of Economics
Instituce archivující a zpřístupňující VŠKP:
University of Economics, Prague

Informace o odevzdání a obhajobě

Datum zadání práce:
27. 4. 2013
Datum podání práce:
31. 12. 2014
Datum obhajoby:

Soubory ke stažení

Hlavní práce:
42906_xlahj00.pdf [1,22 MB]
39469_schwarz.pdf [44,69 kB]
39470_Pertold Gebická.pdf [72,17 kB]

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