Short-Run Demand and Uncertainty of Outcome in Major League Baseball

2010 ◽  
Vol 37 (3) ◽  
pp. 197-214 ◽  
Author(s):  
Scott Tainsky ◽  
Jason A. Winfree
Keyword(s):  
Major League Baseball ◽  
Major League ◽  
Short Run ◽  
Uncertainty Of Outcome

Using Prediction Market Prices to Differentiate Factors that Influence the Highest and Lowest Priced Tickets in Dynamic Pricing for Major League Baseball

2015 ◽  
Vol 9 (2) ◽  
pp. 43-63
Author(s):  
Rodney Paul ◽  
Andrew Weinbach
Keyword(s):  
Dynamic Pricing ◽  
Major League Baseball ◽  
Prediction Markets ◽  
Market Prices ◽  
Betting Market ◽  
Major League ◽  
Similarities And Differences ◽  
Using Data ◽  
Ticket Prices ◽  
Uncertainty Of Outcome

The use of prediction markets is extended to explain differences in preferences of fans that purchase different price levels of tickets under dynamic pricing for Major League Baseball.  Using data from eleven teams, this research investigates similarities and differences in variables that affect ticket prices for the highest-priced and lowest-priced tickets.  Key contrasts between the groups are found to stem from distinct preferences for uncertainty of outcome, measured by betting market odds, and team quality.  It is also shown that differences between the groups are attributable to sensitivity to factors such as key opponents, weekend games, opening day, and temperature.

Explaining Game-to-Game Ticket Sales for Major League Baseball Games Over Time

2011 ◽  
Vol 13 (5) ◽  
pp. 536-553 ◽  
Author(s):  
Elise M. Beckman ◽  
Wenqiang Cai ◽  
Rebecca M. Esrock ◽  
Robert J. Lemke
Keyword(s):  
Major League Baseball ◽  
Ticket Sales ◽  
Home Team ◽  
Major League ◽  
Potential Factors ◽  
Using Data ◽  
Uncertainty Of Outcome ◽  
Over Time

Using data from more than 10,000 games from 1985 through 2009, the authors estimate the effect various factors have on attendance at Major League Baseball (MLB) games. As previously found in the literature, interleague and interleague rivalry contests are associated with higher attendances, but this relationship has been weakening over time. Contrary to some of the literature, the authors find that the likelihood the home team will win the contest is inconsistently estimated over time, lending little support for the uncertainty of outcome hypothesis. Generally the effect on ticket sales from many potential factors has generally been weakening over time.

The short run demand for major league baseball

1982 ◽  
Vol 10 (2) ◽  
pp. 31-35 ◽  
Author(s):  
James Richard Hill ◽  
Jeff Madura ◽  
Richard A. Zuber
Keyword(s):  
Major League Baseball ◽  
Major League ◽  
Short Run

The Demand for Major League Baseball: A Test of the Uncertainty of Outcome Hypothesis

1992 ◽  
Vol 36 (2) ◽  
pp. 72-80 ◽  
Author(s):  
Glenn Knowles ◽  
Keith Sherony ◽  
Mike Haupert
Keyword(s):  
Major League Baseball ◽  
A Priori ◽  
Significant Determinant ◽  
Home Team ◽  
Major League ◽  
The Relationship ◽  
Uncertainty Of Outcome ◽  
Measure Of Uncertainty

The relationship between attendance at major league baseball games and the uncertainty of the outcome of each game is examined. We use an a priori measure of uncertainty in estimating the attendance equation. The variable is developed from the betting lines for individual games and measures the probability of a home team victory during the 1988 major league baseball season. The results indicate that uncertainty of outcome is a significant determinant of attendance for major league baseball. In addition, the results are used to determine the probability of a home team victory at which attendance will be maximized.

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