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A Hedonic Model of Player Wage Determination from the Indian Premier League Auction#

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  • Liam J A Lenten

    ()
    (School of Economics, La Trobe University)

  • Wayne Geerling

    ()
    (School of Economics, La Trobe University)

  • László Kónya

    ()
    (School of Economics, La Trobe University)

Abstract

A range of cross-sectional models are estimated with a view to establishing the factors that determine the valuation of professional athletes in a highly-specialised sport, with an application to crickets Indian Premier League (IPL). We distinguish between personal characteristic and playing ability factors, and with respect to the former, between ability in different forms of the sport. We find a number of interpretable variables that have explanatory power over auction values, while decomposition according to batting and bowling specialisations produces very different results depending on the use of either Test or One-Day International (ODI) variables. There is also possible evidence of inefficient bidding, insofar that overbidding was somewhat correlated with players with higher realised values.

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File URL: http://www.latrobe.edu.au/__data/assets/pdf_file/0015/130920/2010.04.pdf
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Bibliographic Info

Paper provided by School of Economics, La Trobe University in its series Working Papers with number 2010.04.

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Length: 30 pages
Date of creation: 2010
Date of revision:
Handle: RePEc:trb:wpaper:2010.04

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Related research

Keywords: Demand for Sport; Cricket; Auctions; Cross-section Models; Labour Demand;

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  1. Peter Hans Matthews & Paul Sommers & Francisco Peschiera, 2007. "Incentives and superstars on the LPGA Tour," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 39(1), pages 87-94.
  2. Bodvarsson, Orn B & Brastow, Raymond T, 1998. "Do Employers Pay for Consistent Performance?: Evidence from the NBA," Economic Inquiry, Western Economic Association International, Western Economic Association International, vol. 36(1), pages 145-60, January.
  3. Mita Bhattacharya & Russell Smyth, 2003. "The Game is Not the Same: The Demand for Test Match Cricket in Australia," Australian Economic Papers, Wiley Blackwell, vol. 42(1), pages 77-90, 03.
  4. Ehrenberg, Ronald G & Bognanno, Michael L, 1990. "Do Tournaments Have Incentive Effects?," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 98(6), pages 1307-24, December.
  5. Robert Brooks & Robert Faff & David Sokulsky, 2002. "An ordered response model of test cricket performance," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 34(18), pages 2353-2365.
  6. Liam J. A. Lenten, 2008. "Is The Decline In The Frequency Of Draws In Test Match Cricket Detrimental To The Long Form Of The Game?," Economic Papers, The Economic Society of Australia, vol. 27(4), pages 364-380, December.
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