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Flexible Modelling of Time to Failure in Risky Careers

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  • Atkinson, Scott E
  • Tschirhart, John
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    Abstract

    Failure time models correcting for heterogeneity are used to explain the length of participation in a risky career. Using data from t he National Football League, the authors first employ a class of techniques whic h ignore unobserved heterogeneity; hence these methods impose severe restriction s on the estimated hazard. The authors then examine a second class of techniques which correct for unobserv-ables and thereby allow greater flexibility in the e stimated hazard. Within this second class, they find that the estimated hazard u sing the Burr-12 density is much more accurate than densities in the first class , which include the exponential and Weibull. They expect that this density could be employed to successfully explain career duration in other high-risk, high-st resscareers as well. Copyright 1986 by MIT Press.

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    Bibliographic Info

    Article provided by MIT Press in its journal Review of Economics & Statistics.

    Volume (Year): 68 (1986)
    Issue (Month): 4 (November)
    Pages: 558-66

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    Handle: RePEc:tpr:restat:v:68:y:1986:i:4:p:558-66

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    Web page: http://mitpress.mit.edu/journals/

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    Web: http://mitpress.mit.edu/journal-home.tcl?issn=00346535

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    Cited by:
    1. Marcel-Cristian Voia & Mihailo Radoman, 2013. "Youth Training Programs and their Impact on Career and Spell Duration of Professional Soccer Players," Carleton Economic Papers, Carleton University, Department of Economics 13-01, Carleton University, Department of Economics.
    2. Bernd Frick & Gunnar Pietzner & Joachim Prinz, 2007. "Career Duration a Competitive Environment: The Labor Market for Soccer Players in Germany," Eastern Economic Journal, Eastern Economic Association, Eastern Economic Association, vol. 33(3), pages 429-442, Summer.
    3. Stefan Goeke & Joachim Prinz & Daniel Weimar, 2014. "Diamonds are Forever: Job-Matching and Career Success of Young Workers," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 234(4), pages 450-473, July.

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