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Sport as a Behavioral Economics Lab

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  • Ho Fai Chan
  • David A. Savage
  • Benno Torgler

Abstract

Sporting events can be seen as controlled, real-world, miniature laboratory environments, approaching the idea of holding other things equal when exploring the implications of decisions, incentives, and constraints in a competitive setting (Goff and To llison 1990, Torgler 2009). Thus, a growing number of studies have used sports data to study decision making questions that have guided behavioural economics literature. Creative application of sports data can offer insights into behavioural aspects with implications beyond just sports. In this chapter, we will discuss the methodological advantages of seeing sport as a behavioural econom ics lab, concentrating on the settings, concepts, biases, and challenging areas. Beyond that, we will discuss que stions that have not yet been analysed, offering ideas for future studies using sports data. We will fu rther reflect on how AI has evolved; focusing, for example, on chess, which provides insights into the mechanism and machinery of decision-making.

Suggested Citation

  • Ho Fai Chan & David A. Savage & Benno Torgler, 2021. "Sport as a Behavioral Economics Lab," CREMA Working Paper Series 2021-20, Center for Research in Economics, Management and the Arts (CREMA).
    • Handle: RePEc:cra:wpaper:2021-20
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    References listed on IDEAS

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    Cited by:

    1. Chan, Ho Fai & Ulrich, Fabian & Altman, Hannah & Schmidt, Sascha L. & Schreyer, Dominik & Torgler, Benno, 2022. "Beyond performance? The importance of subjective and objective physical appearance in award nominations and receptions in football," Journal of Economic Behavior & Organization, Elsevier, vol. 204(C), pages 271-289.
    2. Carl Singleton & J. James Reade & Dominik Schreyer, 2023. "A decade of violence and empty stadiums in Egypt: when does emotion from the terraces affect behaviour on the pitch?," Empirical Economics, Springer, vol. 65(3), pages 1487-1507, September.

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