This paper introduces fairer measures of individual pitcher performance in baseball using the Shapley Value from coalitional game theory. The paper's key conceptual innovation is a novel two-stage procedure for constructing the coalitionary game value functions for runs allowed and outs recorded...

In this paper, we estimate a translog production function for Major League Baseball (MLB) teams that uses factor inputs for hitting, pitching and defence over the 1960-2024 MLB seasons. The computed elasticities of substitution suggest that hitting and pitching are used in fixed proportions,...

Understanding how emotions stemming from negative outcomes affect investment decisions is critical for studying choice under uncertainty. I build a framework to study how past and anticipated negative emotions interact with an agent’s preference and environment to influence her investment...

Understanding how emotions stemming from negative outcomes affect investment decisions is critical for studying choice under uncertainty. I build a framework to study how past and anticipated negative emotions interact with an agent's preference and environment to influence her investment level....

This research utilizes a compensating differential framework to measure the social benefits of minor league baseball teams. Consistent with findings at the major league level, individual housing observations from 138 metropolitan areas between 1993 and 2005 show that affiliated teams are...