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A Sequential Game Model Of Sports Championship Series: Theory And Estimation

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  • Christopher Ferrall
  • Anthony A. Smith

Abstract

Using data from professional baseball, basketball, and hockey, we estimate the parameters of a sequential game model of best-of-n championship series controlling for measured and unmeasured differences in team strength and bootstrapping the maximum-likelihood estimates to improve their small sample properties. We find negligible strategic effects in all three sports: teams play as well as possible in each game regardless of the game's importance in the series. We also estimate negligible unobserved heterogeneity after controlling for regular season records and past appearance in the championship series: Teams are estimated to be exactly as strong as they appear on paper. © 2000 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology

Suggested Citation

  • Christopher Ferrall & Anthony A. Smith, 1999. "A Sequential Game Model Of Sports Championship Series: Theory And Estimation," The Review of Economics and Statistics, MIT Press, vol. 81(4), pages 704-719, November.
  • Handle: RePEc:tpr:restat:v:81:y:1999:i:4:p:704-719
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    1. Lazear, Edward P & Rosen, Sherwin, 1981. "Rank-Order Tournaments as Optimum Labor Contracts," Journal of Political Economy, University of Chicago Press, vol. 89(5), pages 841-864, October.
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    3. Ehrenberg, Ronald G & Bognanno, Michael L, 1990. "Do Tournaments Have Incentive Effects?," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1307-1324, December.
    4. Lazear, Edward P, 1989. "Pay Equality and Industrial Politics," Journal of Political Economy, University of Chicago Press, vol. 97(3), pages 561-580, June.
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