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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/58346
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| Title: | | Expectations as reference points: Field evidence from experienced subjects in a competitive, high-stakes environment  |
| Authors: | | Bartling, Björn Brandes, Leif Schunk, Daniel |
| Issue Date: | | 2012 |
| Series/Report no.: | | CESifo working paper: Behavioral Economics 3830 |
| Abstract: | | We show that professional soccer players exhibit reference-dependent behavior during matches. Controlling for the state of the match and for unobserved heterogeneity, we show on a minute-by-minute basis that a player breaches the rules of the game, measured by the referee's assignment of cards, with a significantly higher probability if his team is behind the expected match outcome, measured by pre-play betting odds of large professional bookmakers. We derive these results in two independent data sets, one from ten seasons of the German Bundesliga, the other from eight seasons the English Premier League, each with more than half a million minutes of play. |
| Subjects: | | reference points expectations experience high stakes competition |
| JEL: | | D03 D81 D84 L83 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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