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An Analysis Of Attendance At Major League Baseball Spring Training Games, Michael R. Donihue, David Findlay, Peter Newberry
An Analysis Of Attendance At Major League Baseball Spring Training Games, Michael R. Donihue, David Findlay, Peter Newberry
Michael R Donihue
This paper examines the determinants of game-day attendance during Major League Baseball’s 2002 spring training season in Florida. Our model of game-day attendance includes location, quality of game, and time and weather variables. A censored Tobit estimation procedure is used to estimate our model. Our results indicate that the quality of the game, average ticket price, and several location-specific factors affect attendance. Specifically, our results suggest that changes in income have no effect on attendance while increases in ticket prices cause reductions in attendance. Furthermore, the estimated price elasticity of demand for Major League Baseball during the spring training season …
Decomposing Consumer Wealth Effects: Evidence On The Role Of Real Estate Assets Following The Wealth Cycle Of 1990-2002, Michael Donihue, Andriy Avramenko
Decomposing Consumer Wealth Effects: Evidence On The Role Of Real Estate Assets Following The Wealth Cycle Of 1990-2002, Michael Donihue, Andriy Avramenko
Michael R Donihue
During the period from 1990 to 2002, U.S. households experienced a dramatic wealth cycle, induced by a 369 percent appreciation in the value of real per capita liquid stock-market assets, followed by a 55 percent decline. However, despite predictions at the time by some analysts relying on life-cycle models of consumption, consumer spending in real terms continued to rise throughout this period. Using data that include the period from 1990 to 2005, traditional approaches to estimating macroeconomic wealth effects on consumption confront two puzzles: (i) econometric evidence of a stable cointegrating relationship among consumption, income, and wealth is weak at …