The use of Public Funds for Private Benefit: An Examination of the Relationship between Public Stadium Funding and Ticket Prices in the National Football League

During the past decade there has been a proliferation of sports stadia being built in America’s municipal districts. While it used to be common for the public to fully fund stadium construction projects, over the past twenty years factors such as political motives, tax reform and increased public awareness of tax equity have forced sports teams to share increasing amounts of the financial burden (Crompton, Howard, & Var, 2003). As public funding for stadia construction has decreased, franchises have continued to strive for maximized profits. Concurrently, the cost of attending events in sports stadia has increased for consumers in terms of higher ticket prices even though changes in fixed costs should not affect pricing (Leeds & von Allmen, 2004). The purpose of this study was to examine the relationship between the use of public funds to build stadia and the profit maximizing goals of National Football League (NFL) franchises. A hypothesis was formulated that stated the impact of the public share of the construction cost would have no effect on relative ticket prices for those that consume the product. The cross-sectional data for a ticket price model, which consisted of seasonal data from every NFL team to play from 1991 through 2003, was investigated. The results showed an increase in public funding by 10% lowers ticket prices by 42 cents. As shown, the bulk of the variation in ticket prices was due to a general increase over time and MSA per capita income.sunk costs; stadium; financing; public finance; football; ticket prices; fixed costs

Introduction to Programming and Applied Analytics Using Python

This open electronic textbook is a collection of lecture notes, assignments, and additional background material for a junior level analytics course targeted for business students, it is free to use and copy. The text assumes readers have not had prior programming or computing courses, but have had at least one analytics course. The textbook differs from other textbooks because it serves a dual purpose, to first introduce to students the Python programming language and secondly to introduce analytics programming in Python. It is not meant to be a comprehensive book on the Python language or data analytics, rather a semester’s worth of lessons to take business data analytics students with no Python knowledge to a point where they can competently manipulate, explore, and analyze data using Python. Data sets used in this text are available upon request from [email protected]. Solutions to practice problems are found in Appendix A.https://orc.library.atu.edu/atu_oer/1009/thumbnail.jp

Applied Predictive Analytics

The materials in this text are a collection of lecture notes for a course entitled “Applied Predictive Analytics” offered at Arkansas Tech University. The purpose of this text is to provide all of the necessary written material to students in this course free of charge. The work to compile the material was supported by a zero-textbook cost / open education resource grant provided by Arkansas Tech University. The text uses R software which is open source and also available to students at no cost.https://orc.library.atu.edu/atu_oer/1000/thumbnail.jp

The Influence of Dopamine Replacement on Movement Impairments During Bimanual Coordination in Parkinson’s Disease (PD)

The purpose of the current thesis was to investigate the influence of dopamine replacement on performance during bimanual coordination in individuals with Parkinson’s disease (PD) There has been conflicting research on the cause of movement impairments such as coordination deficits, slowed switching and upper limb freezing that occur during coordinated movements It is unclear whether decreased function of the dopaminergic system after withdrawal from dopamine replacement is responsible for these deficits Healthy age-matched control participants were compared to PD participants in two experiments to determine the movement impairments that occurred during three-dimensional wrist flexion-extension bimanual coordination as a result of PD. In addition, individuals with PD were compared without (‘off’) and with (‘on’) dopamine replacement in both experiments to determine whether modulation of the dopaminergic system influenced coordinated movements. In Experiment 1, continuous bimanual coordination was performed in m-phase (simultaneous wrist flexion and extension) and anti-phase (flexion of one wrist while extending other wrist) with movements externally paced with increasing across seven cycle frequencies (0.75 to 2 Hz). Visual feedback was also manipulated in one of three sensory conditions no vision, normal vision or augmented vision. Visual feedback, phase and cycle frequency manipulation was performed to determine whether other deficits (e.g. sensory and/or attentional deficits) may influence coordinated movements Despite reduced amplitude of movements in both limbs of individuals with PD (PD ‘off’), coordination deficits were not observed in PD compared to healthy control participants. In addition, there was an increased occurrence of upper limb freezing (ULF) when cycle frequency demand was greater Dopamine replacement did increase the amplitude of movements in individuals with PD but did not influence coordination performance or the occurrence of ULF. In Experiment 2, coordinated movements were initiated in either m-phase or antiphase and participants were required to voluntarily switch to the other phase pattern when an auditory cue was presented Trials were performed at one of two cycle frequencies (1 or 2 Hz) and one of two sensory conditions (no vision or normal vision) to determine whether other deficits (e.g. sensory and/or attentional deficits) may influence coordinated movement. In addition, a separate block of trials were performed in anti-phase coordination with an auditory cue that did not require a switch Non-switching trials were included to investigate whether the presence of a distracting cue could evoke ULF comparable to when switching between movements was required PD ‘off’ participants demonstrated slower switching, more delayed responses and deficits in coordination performance when compared to healthy control participants. The increased demand of cycle frequency particularly when initiating anti-phase coordination, after voluntary switching and with the presence of the auditory cue without switching contributed to a large occurrence of ULF in individuals with PD. Dopamine replacement improved the ability to switch between phase patterns but had no overall influence on coordination performance or the occurrence of ULF. Overall, the results of the current thesis demonstrated that dopamine replacement can improve motor symptoms during coordinated movements (e g hypometna and bradykinesia) but does not contribute to coordination performance or ULF in individuals with PD. As a consequence, it was concluded that coordination deficits and ULF are not caused by the dysfunctional dopaminergic system but rather associated to secondary impairment caused by PD. The movement impairments caused by secondary dysfunction of PD were proposed to be associated with increased attentional demands and possible executive dysfunction related to fronto-stnatal pathways that cannot be modulated by dopamine replacement. Thus, treatment of complex movement impairments such as coordination deficits and ULF may benefit from rehabilitation or non-dopamine therapies that focus on the global dysfunction caused by PD

Treatment of Travel Expenses by Golf Course Patrons: Sunk or Bundled Costs and the First and Third Laws of Demand

To attract golf patrons, sport managers must understand consumption patterns of the golfer. Importantly, the treatment of travel costs must be understood. According to the Alchian-Allen (1964) theorem, golfers treat travel costs as bundled costs (third law of economic demand) whereas classical consumer theory indicates that golfers treat travel costs as sunk costs (first law of economic demand). The purpose of this study was to determine if golf patrons treated travel costs as sunk costs or if they treated travel costs as a bundled cost. Data from a survey of course patrons in Ohio support the treatment of travel costs as bundled costs by golf course patrons, especially those classified as tourists. Managers should utilize geographic segmentation in choosing whom to market their course based upon their product’s price compared to area competitors, as shown by the strong, positive correlation found between distance traveled and cost of green fees.Alchian-Allen Theorem; Third Law of Demand; Golf Tourism; Bundling

Free Ride, Take it Easy: An Empirical Analysis of Adverse Incentives Caused by Revenue Sharing

A fundamental belief in professional sport leagues is that competitive balance is needed to maximize demand and revenues; therefore, leagues have created policies attempting to attain proper competitive balance. Further, research posits that objectives of professional sport teams’ owners include some combination of winning and profit maximization. Although the pursuit of wins is a zero sum game, revenue generation and potential profit making is not. This article focuses upon the National Football League’s potential unintended consequences of creating the incentive for some teams to free ride on the rest of the league’s talent and brand. It examines whether an owner’s objectives to generate increased revenues and profits are potentially enhanced by operating as a continual low-cost provider while making money from the shared revenues and brand value of the league. The present evidence indicates that, overall, being a low-cost provider is more profitable than increasing player salaries in an attempt to win additional games.free riding; free ride; football; profit maximization; regression; owner incentives

Major League Baseball Anti-Trust Immunity: Examining the Legal and Financial Implications of Relocation Rules

Major League Baseball (MLB) rules restrict the movement of any franchise into another’s territory. These territorial rules are designed to protect each team’s potential local revenue sources as well as to provide stability throughout the league. Recently, Major League Baseball approved financial compensation for the Washington Nationals move into the Baltimore Orioles’ territory – primarily because it was in the best interest of MLB even though it hurt the Orioles. However, the Oakland Athletics were unable to even negotiate a potential compensation plan for a move into the San Francisco Giants territory, despite the apparent financial benefit the move could have provided for every other league franchise. The Athletics are already located within 15 miles of the Giants, and their potential 40 mile move to San Jose, California would not add a new team to the San Francisco Bay Area; rather, it would simply be a move of a current team to a different location within the metropolitan area. The refusal of the Giants or MLB to negotiate a potential compromise has kept the Oakland Athletics in a substandard facility and has led to their potential move to Fremont, CA – a less desirable location than San Jose. This paper investigates the legal, policy, and financial considerations concerning Major League Baseball’s territorial rules. Specifically, it addresses antitrust law as it pertains to American professional sport, relative sport franchise relocation cases, financial arguments why leagues desire to control relocation, financial components of MLB’s current Collective Bargaining Agreement, and the legal and financial impact of a challenge to MLB’s territorial rules – an option the Oakland Athletic initially investigated prior to their decision to pursue a potential move to Fremont.Antitrust law; Collective Bargaining Agreement; Franchise Relocation; Major League Baseball; Revenue Sharing; Territorial Rights

Variable Ticket Pricing in Major League Baseball

Sport teams have historically been reluctant to change ticket prices during the season. Recently, however, numerous sport organizations have implemented variable ticket pricing in an effort to maximize revenues. In Major League Baseball, variable pricing results in ticket price increases or decreases depending on factors such as quality of the opponent, day of the week, month of the year, and for special events such as opening day, Memorial Day and Independence Day (July 4). Using censored regression and elasticity analysis, this paper demonstrates that variable pricing would have yielded approximately $590,000 per year in additional ticket revenue for each Major League team in 1996, ceteris paribus. Accounting for capacity constraints, this amounts to only about a 2.8$1.4 million in revenue. The largest percentage revenue gain would have been the San Francisco Giants. The Giants would have seen an estimated 6.7% increase in revenue had they used optimal variable pricing.baseball; variable pricing; dynamic pricing; regression; censored regression