Offensive performance, omitted variables, and the value of speed in baseball
AbstractThis note considers the problem of estimating the marginal products of offensive events towards a baseball team's objective of scoring runs. Regression techniques on official statistics give a positive marginal product for a stolen base attempt, which is inconsistent with the theory of mixed strategy Nash equilibrium. Augmenting the specification of the production function to include other productive qualities of footspeed restores estimates consistent with equilibrium theory.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 89 (2005)
Issue (Month): 3 (December)
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Web page: http://www.elsevier.com/locate/ecolet
Other versions of this item:
- Theodore L. Turocy, 2003. "Offensive Performance, Omitted Variables, and the Value of Speed in Baseball," Econometrics 0312005, EconWPA.
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Recreation; Tourism
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- Stekler, H.O. & Sendor, David & Verlander, Richard, 2010.
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