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National Repository of Grey Literature 2 records found  Search took 0.01 seconds. 
Eseje o ekonomii sportu
 Lahvička, Jiří ; Chytil, Zdeněk (advisor) ; Schwarz, Jiří (referee) ; Pertold Gebická, Barbara (referee)
This dissertation consists of five articles about economics of sports. The first three articles investigate various types of outcome uncertainty and how they relate to match attendance demand, while the remaining two articles test the efficiency of sports betting markets. The first article presents a new method of calculating match importance. Unlike the previous approaches in the literature, it does not require ex-post information and can be used for any type of season outcome. The second article shows that the additional playoff stage in the Czech ice hockey "Extraliga" lowers the probability of the strongest team becoming a champion and thus increases seasonal uncertainty. The third article demonstrates that the inconsistent findings in the literature about the link between match uncertainty and attendance could be explained by wrongly specified regressions, proposes a new approach to analyzing the effect of match uncertainty and shows that attendance demand is maximized if teams of the same quality play against each other. The fourth article examines the favorite-longshot bias in the context of betting on tennis matches. It shows that the favorite-longshot bias pattern is consistent with bookmakers protecting themselves against both better informed insiders and the general public exploiting new information. The fifth article investigates the supposedly profitable strategy of betting on soccer draws using the Fibonacci sequence. The strategy is tested both in a simulated market and on a real data set and found to lose money.
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Attendance of Ice-hockey Matches in Czech Extraliga
 Lahvička, Jiří ; Bolcha, Peter (advisor) ; Bartoň, Petr (referee)
This paper uses data about 3,640 matches played in the seasons 2000/01-2009/10 to explain individual match attendance of the top Czech ice hockey competition -- the Extraliga. Some interesting results are that fans decide whether to attend based on the detailed information about the home team, but use just the easily observable information about the away team; that a match having no impact on the final season outcome is much less attended; that televising a match decreases attendances of all matches played on the same day, but there is no negative next-day effect; that both very good and very bad weather decreases attendance; and that if two home matches are played in a short time period, their attendance is lower with likely higher impact on the second match. Substitution of ice hockey with soccer is investigated on several different levels -- while ice hockey and soccer are definitely long-term substitutes, there are mixed results for same-day substitution. Modernization of ice hockey arenas is identified as the key factor behind the almost 20% attendance growth in the analyzed period. This paper also presents a new realistic method of modeling seasonal uncertainty based on Monte Carlo simulation that does not rely on ex post information.
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