Franchise Values in North American Professional Sports Leagues: Evidence from a Repeat Sales Method
AbstractThe paper develops a quality adjusted professional sports franchise price index for North America based on a repeat sale method. This index reflects trends in the general price of sports franchises holding local market, facility, and team characteristics constant. The price index exhibits considerable volatility but no upward trend over time, unlike previous quality adjusted price indexes based on hedonic models in the literature. The lack of an upward trend in this quality adjusted price index indicates that specific franchise characteristics drives observed increases in prices over the past forty years.
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Bibliographic InfoPaper provided by International Association of Sports Economists & North American Association of Sports Economists in its series Working Papers with number 0914.
Length: 21 pages
Date of creation: Nov 2009
Date of revision:
repeat sales method; sports franchise; quality adjusted price index;
Find related papers by JEL classification:
- G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-10-16 (All new papers)
- NEP-SPO-2010-10-16 (Sports & Economics)
- NEP-URE-2010-10-16 (Urban & Real Estate Economics)
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