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Franchise Values in North American Professional Sports Leagues: Evidence from a Repeat Sales Method

Author

Listed:
  • Brad R. Humphreys

    (Department of Economics, University of Alberta)

  • Yang Seung Lee

    (Department of Economics, College of the Holy Cross)

Abstract

The 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.

Suggested Citation

  • Brad R. Humphreys & Yang Seung Lee, 2009. "Franchise Values in North American Professional Sports Leagues: Evidence from a Repeat Sales Method," Working Papers 0914, International Association of Sports Economists;North American Association of Sports Economists.
    • Handle: RePEc:spe:wpaper:0914
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    File URL: http://web.holycross.edu/RePEc/spe/HumphreysLee_FranchiseValues.pdf
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    More about this item

    Keywords

    repeat sales method; sports franchise; quality adjusted price index;
    All these keywords.

    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

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