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Contribution Details

Type Working Paper
Scope Discipline-based scholarship
Title Expectations as reference points: field evidence from experienced subjects in a competitive, high-stakes environment
Organization Unit
Authors
  • Björn Bartling
  • Leif Brandes
  • Daniel Schunk
Language
  • English
Institution University of Zurich
Series Name Working paper series / Department of Economics
Number 73
ISSN 1664-7041
Number of Pages 20
Date 2012
Abstract Text We show that professional soccer players exhibit reference-dependent behavior during matches. Controlling for the state of the match and for unobserved heterogeneity, we show on a minute-by-minute basis that a player breaches the rules of the game, measured by the referee’s assignment of cards, with a significantly higher probability if his team is behind the expected match outcome, measured by pre-play betting odds of large professional bookmakers. We derive these results in two independent data sets, one from ten seasons of the German Bundesliga, the other from eight seasons the English Premier League, each with more than half a million minutes of play.
Official URL http://www.econ.uzh.ch/static/wp/econwp073.pdf
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Keywords Reference points, expectations, experience, high stakes, competition, Fussball, Verhalten, Erwartung