Uncertainty of Outcome Versus Reputation: Empirical Evidence for the First German Football Division

Czarnitzki, Dirk ; Stadtmann, Georg

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URL: http://ub-madoc.bib.uni-mannheim.de/597
URN: urn:nbn:de:bsz:180-madoc-5972
Document Type: Working paper
Year of publication: 1999
The title of a journal, publication series: None
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: C24 D12 ,
Subject headings (SWD): Deutschland , Fußball , Tobit-Modell , Sponsoring
Abstract: This paper analyses the determinants of match attendance in the German premier football league by applying models derived from Peel/Thomas (1992) and Janssens/Késenne (1987). Additionally we develop an improved version, where we incorporate the supporter clubs and the weather conditions as explanatory variables. While we consider this problem more or less from the consumer perspective, the information gained through this modell can also serve as a management tool for football clubs: The returns are directly related to the number of tickets sold. Furthermore, the funds raised by merchandising and advertising are also closely linked to the attendance figures. Due to the limited capacity of the stadiums, some observations on attendance are right censored in our sample. While other authors use the ordinary least squares estimator, which produces inconsistent results when events were sold out, we take this restricition implicity in consideration by using a Tobit model. In conclusion, we show that repuatation and goodwill are more important for attendance levels than the thrill of outcome uncertainty.
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